Today, we, the leaders of the United States, India, Saudi Arabia, the United Arab Emirates, France, Germany, Italy and the European Union, announced a Memorandum of Understanding committing to work together to develop a new economic corridor between India, the Middle East and Europe. . Announced at the G20 Leaders’ Meeting on the Partnership for Global Infrastructure and Investment, this historic corridor is expected to spur economic development by improving connectivity and economic integration across the two continents, thereby promoting sustainable and inclusive economic growth.
Through the India-Middle East-Europe Economic Corridor, we aim to usher in a new era of connectivity through railways connected through ports connecting Europe, the Middle East and Asia. The US and its partners plan to connect the two continents with trade centers and promote the development and export of clean energy; laying submarine cables and connecting power grids and communication lines to expand reliable access to electricity; enabling innovation in advanced clean energy technologies; Connecting communities to a safe and stable internet. Through the corridor, we envision advancing existing trade and industrialization and strengthening food security and supply chains. Our approach aims to unlock new investment from partners, including the private sector, and stimulate the creation of good jobs.
Looking ahead, the United States reaffirms our unwavering commitment to transformative regional investment and work to build this corridor with our partners. These investments are the gateway to our future and support our shared vision of an open, secure and prosperous future.
Read the Memorandum of Understanding here.
2023-09-09 20:38:54
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