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 India-Middle East-Europe Economic Corridor. Announced at the G20 Leaders’ event on the Partnership for Global Infrastructure and Investment, this landmark corridor is expected to stimulate economic development through enhanced connectivity and economic integration across two continents, thus unlocking sustainable and inclusive economic growth.
Through the India-Middle East-Europe Economic Corridor, we aim to usher in a new era of connectivity with a railway, linked through ports connecting Europe, the Middle East, and Asia. The United States and our partners intend to link both continents to commercial hubs and facilitate the development and export of clean energy; lay undersea cables and link energy grids and telecommunication lines to expand reliable access to electricity; enable innovation of advanced clean energy technology; and connect communities to secure and stable Internet. Across the corridor, we envision driving existing trade and manufacturing and strengthening food security and supply chains. Our approach aims to unlock new investments from partners, including the private sector, and spur the creation of quality jobs.
Looking to the future, the United States underscores our unwavering commitment to pursuing transformative regional investments and working to build out this corridor together with our partners. These investments are a gateway to our future and underpin our shared vision of an open, secure, and prosperous future.
Read the MOU here.