On Saturday major global powers made a new announcement on the sidelines of the G20 summit which is currently being held at New Delhi, India. The deal proposes connecting the Middle East with South Asia through rail and ports. U.S. President Joe Biden is advancing the deal as an alternative to global infrastructure Belt and Road push by China.
Countries including the European Union, India, Saudi Arabia, the U.S., the United Arab Emirates and other countries are set to sign the deal. The deal proposes to build a rail and shipping corridor. The rail corridor will be built in countries across the Middle East and will be linked by ports to India.
Global world leaders from all these countries were part of the announcement and European Commission President Ursula von der Leyen said that this new project would be a “green and digital bridge across continents and civilizations.”
President Joe Biden said, “This is a big deal. This really is a big deal.”
The rail and port corridor are expected to physically link large swathes of land across the world. This will enhance digital connectivity as well as increase trade among countries. Countries in the Middle East that are expected to be part of the multi-country deal include Saudi Arabia, Jordan, The United Arab Emirates and Israel.
Although no timeline or costs or financial outlay have been set, there are indications that a basic plan should be in place by next year. The ambitious project is expected to foster both economic growth as well as cooperation among the countries on various fronts.
Von der Leyen also announced a “Trans African Corridor.” This new corridor is expected to connect port Lobito in Angola with landlocked important areas in Congo and Zambia.
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