India-Middle East-Europe corridor has potential to unleash new era of economic activities: US official
Sep 10, 2023
New Delhi [India], September 10 : The ambitious transport and energy corridor between India and Europe via the Middle East is a “transformative partnership” with the potential to unleash a new era of economic activities from Europe to Asia, a senior US official said on Sunday.
Principal Deputy National Security Advisor of the White House told media on board Air Force One that the India-Middle East-Europe Economic Corridor (IMEE-EC) will create a novel interconnected corridor to facilitate global trade, expand reliance access to electricity, facilitate clean energy distribution and strengthen telecommunication links.
"US President Joe Biden along with India, Saudi Arabia, UAE, France, Germany, Italy and European Union, announced a landmark commitment to work together to develop a new India-Middle East-Europe economic corridor," Finer said.
The US official’s statement follows Saturday’s announcement of the historic agreement between India, UAE, Saudi Arabia, EU, France, Italy, Germany and the US to soon launch the mega India-Middle East-Europe shipping and railway connectivity corridor.
Prime Minister Narendra Modi on Saturday made the announcement for the ambitious project on the sidelines of the G20 Summit and was flanked by US President Joe Biden, Saudi Arabia Prime Minister Mohammed bin Salman and leaders of the EU.
Speaking after the launch, PM Modi said, "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 Europe."
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.
“Strong 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 well,” PM Modi said.
US President Joe Biden called it a "game-changing" regional investment. Biden said that this project is about more than just laying tracks but a “game-changing regional investment."
