New Delhi - During the G20 Summit, exciting news surfaced regarding the forthcoming launch of the India-Middle East-Europe economic corridor, featuring comprehensive shipping and railway links. This groundbreaking initiative represents a historic step in fostering cooperation on connectivity and infrastructure among several nations, including India, the UAE, Saudi Arabia, the EU, France, Italy, Germany, and the US.
Ursula von der Leyen, in a significant development, emphasized that the 'India-Middle East-Europe' economic corridor would reduce trade duration between India and Europe by an impressive 40%. She described the project as a "green and digital bridge connecting continents and civilizations," highlighting its incorporation of advanced features like electricity and data transmission cables.
The ambitious project to establish a rail and shipping corridor connecting India with the Middle East and Europe aims to spur economic growth and enhance political collaboration.
US President Joe Biden expressed his enthusiasm, stating, "This is a big deal, a really big deal."
This corridor is poised to revitalize trade, facilitate energy resource transport, and strengthen digital connectivity. It will involve collaboration among India, Saudi Arabia, the United Arab Emirates, Jordan, Israel, and the European Union, as articulated by Jake Sullivan, Biden's national security adviser.
Sullivan emphasized that this upgraded infrastructure would stimulate economic progress, unite Middle Eastern nations, and transform the region into a thriving economic hub, moving away from its historical role as a source of challenges, conflicts, or crises.
The White House initiated discussions with regional partners about this concept in January, followed by the drafting of maps and assessments of existing Middle Eastern rail infrastructure by spring. In May, Sullivan, along with senior White House aides Hochstein and Brett McGurk, met with their counterparts in Saudi Arabia to advance discussions.
Since then, all parties have diligently worked on finalizing the agreement announced at the G20 Summit. Notably, this collaborative effort also brought Israel and Jordan into the project, despite the absence of diplomatic relations between Saudi Arabia and Israel, reflecting ongoing efforts to normalize relations in the region.