G20 summit: UAE, Saudi, India and US to announce joint shipping, railway deal

The UAE, Saudi Arabia, India, and the US will announce an agreement to build shipping and railway links that will connect Europe and the Middle East to India, according to a top US official. 

The announcement is expected to be made today on the sidelines of the G20 summit in New Delhi.

The proposal will create an economic corridor linking Middle Eastern countries through rail links, which will be connected to India through shipping lanes.

The European Union will also be part of the deal.

“First and foremost, it is the value proposition we see in linking these three regions of the world and enabling the flow of commerce, energy and digital communication, that we think is going to help increase prosperity,” US Deputy National Security Adviser Jon Finer said in a press briefing.

In May, top national security officials from the four countries met in Saudi Arabia to discuss the deal.

US President Joe Biden and Indian Prime Minister Narendra Modi are expected to announce the project as a part of the Partnership for Global Infrastructure Investment at the G20 meeting, which is currently being held in New Delhi.

“This project, which will push commerce, energy trade, digital connectivity, high standards, will be executed in a transparent, non-coercive and sustainable way,” Finer added.

 

Source: https://www.zawya.com/en/business/transport-and-logistics/g20-summit-uae-saudi-india-and-us-to-announce-joint-shipping-railway-deal-l29oe8rl

 

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