G20 Summit: India-Middle East-Europe mega corridor deal announced
NEW DELHI:
India, the United States, Saudi Arabia and the European Union on Saturday announced a historic agreement to soon launch a mega India-Middle East-Europe shipping and railway connectivity corridor.
Prime Minister Narendra Modi made the announcement for the ambitious project on the sidelines of the G20 Summit and was flanked by US President US Biden, Saudi Arabia Prime Minister Mohammed bin Salman and leaders of the EU.
This is a historic and first-of-its-kind initiative on cooperation on connectivity and infrastructure involving India, the UAE, Saudi Arabia, EU, France, Italy, Germany and the US.
Speaking after the launch, PM Modi said, âI cordially welcome you all at this event. I am very happy to co-chair this event with my friend President Joe Biden. Today, we all have seen the conclusion of a historic and important agreement. In the coming days, it will be an effective medium of economic integration between India, South Asia, and Europeâ.
Speaking at the Bharat Mandapam venue of the G20 Summit here, PM Modi said the mega deal will give a sustainable direction to connectivity and sustainability across the world. He also congratulated all the leaders who were part of the connectivity corridor.
Advancing Infrastructure Growth, Enhancing Connectivity!
— PMO India (@PMOIndia) September 9, 2023
On the sidelines of the G20 Summit, PM @narendramodi and other leaders joined a special event on Partnership for Global Infrastructure and Investment & India-Middle East-Europe Economic Corridor.
It will facilitate⊠pic.twitter.com/jb1wnDOIor
âStrong connectivity and infrastructure are the foundation of the development of human civilisation. India has given this issue utmost priority during its course of development. Along with physical infrastructure, unprecedented investments are being made in social, economic and financial infrastructure as wellâ, PM Modi said.
He added, âThrough this, we are laying a strong foundation for a developed India. As a reliable partner, India has set up infrastructure projects in the field of railways, energy, and technology partnerships, among the nations of the Global South. We have laid special emphasis on a demand-driven and transparent approachâ.
The Prime Minister further stressed respecting sovereignty and regional integrity and stated that connectivity between different countries not only increases business but also trust between them.
âWe believe connectivity between different countries increases not only business but trust between them. By promoting connectivity initiative, we need to ensure we stick to philosophies, that is, adhesion to international rules, respect for all nationsâ sovereignty and regional integrityâ, PM Modi said.
The infrastructure deal is expected to connect countries in the Middle East via a network of railways. The network will also connect to India through shipping lanes from ports in the region.
White House Deputy National Security Advisor Jon Finer had earlier said, âThe deal will benefit low and middle-income countries in the region, and enable a critical role for the Middle East in global commerce. We see this as having a high appeal to the countries involved, and also globally because it is transparent because it is a high standard because it is not coerciveâ.
Delving more on the initiative, Finer noted it was not just a railway project but more of a shipping and railway project. âIt is not just the railway project, it is a shipping and railway project and it is important for people to understand how expansive, ambitious and ground-breaking this will beâ, Finer added.
Finer termed this to-be-built project as âaffirmative positiveâ aimed at serving the underserved. âThe way we see the infra project, it is an affirmative positive project. It has appeal for countries underserved by infra. We are not asking countries to make a zero-sum choice. We have seen other efforts that are not as ambitious, we feel good about the contrast of what we provideâ, White House Deputy National Security Advisor said.
Addressing the the Partnership for Global Infrastructure Investment (PGII) and India-Middle East-Europe Economic Corridor programme at Bharat Mandapam US President Joe Biden said, âThis is a real big deal. I want to thank PM. One Earth, One Family, One Future thatâs the focus of this G 20 Summit. And in many ways, itâs also the focus of this partnership that weâre talking about today. Building sustainable, resilient infrastructure, making quality infrastructure investments and creating a better futureâŠâ
Speaking at the same forum, Crown Prince of Saudi Arabia Muhammed Bin Salman said, â⊠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 corridorâŠâ
French President Emmanuel Macron said, ââŠSo now with the European Commission here, we commit to invest alongside with you on this road. And this is a very important project from Asia through Middle East to Europe to offer big opportunities and connect people.
âBut our intention is as well to make it real and to be sure that after this commitment we have concrete results and especially to have the first global green trade road meaning having net zero transport infrastructureâŠâ, Macron said.
European Commission President Ursula von der Leyen said, âMore large-scale projects are seeing the lightâŠWe are presenting two of them today. First the India-Middle East-Europe economic corridorâŠIt will be the most direct connection to date between India, the Arabian Gulf and EuropeâŠThis is also the spirit of the second project we announce today the Trans African CorridorâŠâ (ANI)
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