On Sunday, US President Joe Biden praised the historic deal for a new India-Middle East-Europe Economic Corridor (IMEC) as a regional investment that would change the game.What did the US president have to sayIn a social media post, President Biden stated that the project would connect ports on two continents, facilitate trade, facilitate the export of clean energy, and provide access to dependable clean electricity.“Im proud to announce that the U.S., India, Saudi Arabia, the UAE, France, Germany, Italy and EU finalized a historic agreement for a new India-Middle East-Europe Economic Corridor,” the U.S. president said. “This project is about more than just laying tracks. This is a game-changing regional investment.”Im proud to announce that the U.S., India, Saudi Arabia, UAE, France, Germany, Italy and EU finalized a historic agreement for a new India-Middle East-Europe Economic Corridor.This project is about more than just laying tracks.This is a game-changing regional investment. pic.twitter.com/JPbwFYcUeQ— President Biden (@POTUS) September 9, 2023On Saturday, India, the US, and several other big economies revealed an ambitious infrastructure project for a railway and maritime corridor intended to improve trade, energy, and internet connections.More on the G20 Summit (Image source-ANI)The G20 Summit event was co-chaired by President Biden and Prime Minister Narendra Modi. Along with Modi and Biden, other attendees included Saudi Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud, UAE President Mohammed bin Zayed Al Nahyan, French President Emmanuel Macron, German Chancellor Olaf Scholz, Italian Prime Minister Giorgia Meloni, and European Commission President Ursula von der Leyen.Speaking at the Bharat Mandapam venue of the G20 Summit, PM Modi said, “Today we all have seen the conclusion of a historic and important agreement. In the coming days, it will be an effective medium of economic integration between India, South Asia, and Europe.”“India does not limit connectivity into regional borders. It has been Indias priority to increase connectivity with all regions. We believe that connectivity between various countries is not only a source of increasing trade but also for strengthening mutual trust,” Modi said.Later, in a post on X, Modi said, “Charting a journey of shared aspirations and dreams, the India-Middle East-Europe Economic Corridor promises to be a beacon of cooperation, innovation, and shared progress. As history unfolds, may this corridor be a testament to human endeavor and unity across continents.”The proposal, according to the Ministry of External Affairs, would have two distinct corridors: an eastern corridor linking India to the Gulf region and a northern corridor linking the Gulf region to Europe. The corridor will have a network of roads, ship-rail transit, and railroads.
