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US President Joe Biden and his allies will announce this Saturday during the G20 summit a plan for a maritime and rail transport corridor that would connect India with the Middle East and Europe – which is expected to change global trade.
The project will involve the United States, Saudi Arabia, the United Arab Emirates, the European Union and other countries in the G20, said Jon Finer, Biden's deputy national security adviser.
Biden, Indian Prime Minister Narendra Modi and European Commission President Ursula von der Leyen will announce the project as part of the Global Infrastructure Investment Partnership.
The maritime and rail transport corridor would enable greater trade between the countries, including energy products.
It could also be one of the most ambitious projects against China's massive infrastructure program, through which it has aimed to connect more parts of the world to its economy.
Finer underlined the three main points of the project. He said that the first is the increase in prosperity that the project would provide for the countries involved in it, increasing the flow of energy and digital communications. Second, the project would help address the lack of infrastructure needed for growth in low- and middle-income countries. And third, Finer said, the project would help "lower the temperature" of "uncertainty and turmoil" coming from the Middle East.
Von der Leyen is expected to describe the project as "nothing less than historic" and an "India-Middle East-Europe Economic Corridor" which will accelerate trade between India and Europe by 40 percent, according to a draft of her prepared speech.
Ukrainian President Volodymyr Zelensky, who has been a constant presence at international summits, including last year's G20 in Indonesia, since Russia invaded his country more than 18 months ago, was not invited by the government. of Mondi for this year's gathering.
Zelensky has used the high-level gatherings to argue for continued economic and military support for his country. India is among the United States' biggest allies that has remained largely silent on the war and has even significantly increased its purchase of Russian oil.
Finer said White House officials pushed for Zelensky's inclusion in the summit.
The White House is trying to strengthen the G20 as an international forum, while the president of China, Xi Jinping, and that of Russia, Vladimir Putin, have decided not to participate.
Still, China and Russia are represented at this summit and this will make it difficult for the G20 to make a joint statement on the war in Ukraine./ REL
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