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 to work together to build a new India-Middle East-Europe Economic Corridor. . Announced at the G20 Leaders’ Event on Partnership for Global Infrastructure and Investment, the landmark corridor is expected to spur economic growth through enhanced connectivity and economic integration on the two continents, thereby unlocking sustainable and inclusive economic growth.
Through the India-Middle East-Europe Economic Corridor, we aim to create a new era of rail connectivity through ports connecting Europe, the Middle East and Asia. The United States and our allies want to connect the two continents to business hubs and facilitate the development and export of clean energy; Lay submarine cables and connect power grids and telecommunications links to expand reliable access to electricity; Implementing innovations in advanced clean energy technology; Connect communities with a secure and stable internet. Across the corridor, we envision strengthening existing trade and manufacturing and food security and supply chains. Our approach aims to unlock new investments from partners including the private sector and create quality jobs.
Looking to the future, the United States underscores our unwavering commitment to continue making transformative regional investments and working with our partners to build this corridor. These investments are the gateway to our future and underpin our shared vision of an open, secure and prosperous future.
Read the Memorandum of Understanding here.