DELHI, India – The United States and the European Union have thrown their support behind a visionary plan to establish an economic corridor that would connect Europe with the Middle East and India through a network of railways and sea routes. President Joe Biden hailed the project as a “game-changing investment” during the G20 leaders’ summit held in Delhi this weekend.
The announcement of the India-Middle East-Europe economic corridor was made by Indian Prime Minister Narendra Modi and European Commission President Ursula von der Leyen. Modi described the project as “a beacon of cooperation, innovation, and shared progress,” while von der Leyen emphasized that it represented “much more than just a railway or a cable,” calling it a “green and digital bridge across continents and civilizations.”
The envisioned corridor aims to link India, Saudi Arabia, the United Arab Emirates, Jordan, Israel, and the European Union through an extensive network of shipping ports and rail routes. The primary objectives are to expedite trade, reduce costs, enhance economic collaboration, and strengthen digital connectivity across the region.
The project, named the Partnership for Global Infrastructure Investment, holds the potential to accelerate trade between India and Europe by up to 40% and foster improved relations between Israel and the Gulf states, a goal that the Biden administration has actively pursued.
This initiative also serves as a counterbalance to China’s expansive infrastructure initiative, the Belt and Road project, which has established significant influence over economies in Asia, Africa, and Latin America.
Jake Sullivan, National Security Advisor to President Biden, stated, “We think that the project itself is bold and transformative, but the vision behind the project is equally bold and transformative, and we will see it replicated in other parts of the world as well.”
Notably, the leaders did not specify the financial contributors to the project. A working group has been tasked with providing comprehensive plans within the next 60 days, including a construction timeline for the infrastructure.
Sullivan revealed that discussions for this initiative commenced in July of the previous year during President Biden’s visit to Saudi Arabia. Subsequent meetings involving Saudi Arabia, the UAE, and India took place earlier this year to formalize the agreement. Despite a lack of diplomatic relations between Israel and Saudi Arabia, Israel was also integrated into the project, along with Jordan.
