New Delhi: During two-day G20 Summit held here, United States, India, Saudi Arabia, United Arab Emirates, France, Germany, Italy and European Union announced Memorandum of Understanding committing to work together to develop new India-Middle East-Europe Economic Corridor.

As per statement issued by White House, new corridor was announced at G20 Leaders’ event on Partnership for Global Infrastructure and Investment. Saudi Arabia, France, European Union, Germany, India, Italy. United Arab Emirates and United States among members of Corridore.

Statement termed corridor ‘landmark’, expected to stimulate economic development through enhanced connectivity and economic integration across two continents, ‘unlocking’ sustainable and inclusive economic growth.

India-Middle East-Europe Economic Corridor aims to usher in new era of connectivity with railway, linked through ports connecting Europe, Middle East and Asia.

United States and its allies intend to link both continents to commercial hubs and facilitate development and export of clean energy; lay undersea cables and link energy grids and telecommunication lines to expand reliable access to electricity; enable innovation of advanced clean energy technology and connect communities to secure and stable Internet.

Published in The Daily National Courier, September, 11 2023

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