Joe Biden, the President of the United States, mentioned that the India-Middle East-Europe Economic Corridor “is a big deal.”
G20 leaders made a landmark announcement that took the world by surprise. The announcement of the India-Middle East-Europe Economic Corridor at the G20 summit is set to transform the world in more ways than one. The member countries under the leadership of India are making unprecedented growth that can assist in uniting a world filled with conflicts.
Biden took center stage to mention that the shipping and rail corridor linking India, the Middle East, and Europe is a “transformative regional investment.” According to Biden, the India-Middle East-Europe Economic corridor is more than an infrastructural development with the potential to achieve great things.
The announcement of Trans corridor was announced on the tenth anniversary of China’s Belt & Road initiative. The economic corridor counterweights China’s B&R and consists of two corridors.
An article published on Republic World mentions the following:
“Biden, during the meeting, stated that the India-Middle East-Europe Economic Corridor “is a big deal.” This is a really big deal,” he insisted. The corridor, undoubtedly, will boost connectivity and enhance the sustainability of the transit system across the world…”
The two projects involved in the Trans Corridor are the Middle East Corridor and the West Corridor. The Middle East Corridor will connect the Indian Mundra port to the UAE’s Fujairah port. Following this, the goods will be transported via railroad from Saudi Arabia and Jordan to the Israeli port of Haifa.
The second project is the connection between Haifa and the port of Marseille, France. Furthermore, the Western Corridor will have connectivity to other important European ports in Italy and Greece.
The Trans corridor is set to boost digital connectivity, trade and deliver energy resources. Countries that naturally cross paths with the Trans corridor will also benefit. In addition to Asia, the Middle East, and Europe benefiting from the Trans corridor, African countries will also experience a significant drive in their economy.
The Republic World article mentions:
“G20 leaders touted China’s Belt and Road style corridor emphasizing that the countries in the Middle East Asia Pacific, and Europe will come together in terms of economy, and trade. It will boost economic growth, and convert the entire region into a hub for economic activity. The India-Middle East-Europe Economic Corridor will not be the “source of challenge, conflict or crisis,” but instead will facilitate trade by adjoining the vast stretch of the globe.”
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