G20 summit witnesses announcement of India-Middle East-Europe corridor project

The G20 summit on 9th September 2023 witnessed the announcement of an ambitious project which will connect India to Europe via Middle East. The first of its kind projects named the India-Middle East-Europe connectivity corridor along with the Trans-African corridor were announced on 9th September 2023 under the forum of Partnership for Global Infrastructure and Investment with the presence of top world leaders. Prime Minister Narendra Modi said that with this corridor India will be a medium for economic integration between West Asia and Europe. In his message on social media, the PM said that the Corridor promises to be a beacon of cooperation, innovation, and shared progress. He said, as history unfolds, may this corridor be a testament to human endeavour and unity across continents.

Terming the corridor as a real big deal, US President Joe Biden said that the United States will work with the partners to invest in economic corridors which are game changer investment.

French President Emmanuel Macron hailed the decision and said it is a very important project and France is committed to invest in it. He added that this initiative is very important for Asia, the Middle -East and India and brings big opportunities for the people.

The European Commission President Ursula von der Leyen termed it as historic and said that the corridor will make trade faster. The countries involved in the project include the United States, India, Saudi Arabia, the United Arab Emirates, France, Germany, Italy and the European Union.

A corridor that will not only become a bridge between civilizations but also increase India’s global influence. The India-Middle East-Europe connectivity corridor would link Railways and port facilities across the Middle East including the UAE, Saudi Arabia, Jordan, and Israel. The project has the potential to speed up the trade between India and Europe. The background of this project started two years back with the announcement of The Partnership for Global Infrastructure and Investment.

The US will invest in a new rail line from Angola towards the Indian Ocean in this project. A Memorandum of Understanding committing will work together to develop the corridor. In its statement, White House said that America aims to usher in a new era of connectivity with a railway, linked through ports connecting Europe, the Middle East, and Asia. It will unlock new investments from partners, including the private sector, and spur the creation of quality jobs.

Comments are closed.