According to International news, in an apparent Western effort to offset China’s worldwide ambitions, the United States and the European Union have supported the building of an economic corridor, connecting India to the Middle East and the Mediterranean.
As informed, the plan was launched on the sidelines of the G20 summit in New Delhi on 9th September, through a memorandum of understanding agreed by leaders including US president Joe Biden, Indian prime minister Narendra Modi and Saudi Crown Prince Mohammed bin Salman.
Through shipping ports and rail lines, the proposed corridor would connect India, Saudi Arabia, the United Arab Emirates, Jordan, Israel, and the EU in an effort to speed up and reduce the cost of trade as well as to promote economic cooperation and digital connection throughout the region.
As explained,although no binding financial commitments were struck, the countries and parties involved in the MoU agreed to come up with an “action plan” over the next 60 days.
Jake Sullivan, the US national security adviser, said there was no particular link with the Israel-Saudi normalisation talks.
It is not a specific precursor to normalisation. It is not tied to the broader discussions that we are having on the normalisation issue.
..he said.
The US also expressed its approval of the planned project, with president Biden saying that the corridor would offer endless opportunities for the countries involved by making it far easier to trade and export clean energy, as well as to lay cable that will connect communities. Overall, it would contribute to a more stable and prosperous Middle East.
