New Delhi: The connectivity corridor for economic integration between India, the Middle East, and Europe was unveiled by Prime Minister Narendra Modi on September 9. At the G20 Summit in New Delhi, Modi made the declaration alongside US President Joe Biden and Saudi Arabian Prime Minister Mohammed bin Salman.
At the G20 Summit, the United States, Saudi Arabia, the European Union, the United Arab Emirates, and others unveiled plans to connect data, trains, ports, energy networks, and hydrogen pipes between the three regions.
The agreement will help the region’s low- and middle-income nations and enable the Middle East to play a significant role in world trade, said Jon Finer, US deputy national security adviser.
Crown Prince of Saudi Arabia Muhammed Bin Salman said, “… We look forward to the integration of the initiative and the Economic Corridor project which is announced in this meeting. I would like to thank those who worked with us to reach this founding step to establish this important economic corridor…”
President Biden, in a social media post, said the project would bridge ports across two continents and would make it easier to trade, export clean energy, and expand access to reliable clean electricity.
The Ministry of External Affairs said the project would comprise two separate corridors, an eastern corridor connecting India to the Gulf region and a northern corridor connecting the Gulf region to Europe. The corridor will include a railway and ship-rail transit network and road transport routes.