Antony Blinken congratulates Saudi, Emirati partners on new economic corridor

I just want to congratulate both our Saudi and Emirati partners on the finalization of the India-Middle East-Europe Economic Corridor. We were all together at the G20, and I just want to thank them for their continued commitment to the Partnership for Global Infrastructure and Investment, he said.

Blinken made the remarks before his meeting with Saudi Foreign Minister Prince Faisal bin Farhan Al Saud, and United Arab Emirates Foreign Minister Abdullah bin Zayed Al Nahyan in New York.

At the G20 Summit which took place in India on September 9-10; India, the US, UAE, Saudi Arabia, France, Germany, Italy and the European Union signed a Memorandum of Understanding (MoU) to establish theIndia-Middle East-Europe Economic Corridor. Biden called it a "game-changing" regional investment.

The corridor will encourage and provide impetus to economic development through enhanced connectivity and economic integration between Asia, West Asia, the Middle East and Europe, as per sources.

TheIndia-Middle East-Europe Economic Corridorwill consist of two separate corridors, the East corridor connecting India to West Asia/Middle East and the Northern corridor connecting West Asia/Middle East to Europe.

It will include a rail line, which upon completion, will provide a reliable and cost-effective cross-border ship-to-rail transit network to supplement the existing multi-modal transport routes enhancing transhipment of goods and services between South East Asia through India to West Asia/Middle East Europe.

Meanwhile, in his address at the 78th session of the United Nations General Assembly (UNGA) on Tuesday, US President Joe Biden lauded the India-Middle East-Europe Economic Corridor and said the project will spur opportunities for investment across two continents.

Biden said that the rail port project is part of an effort to build a more sustainable integrated Middle East.

Ground breaking efforts were announced at the G20. Connecting India to Europe through the UAE, Saudi Arabia Jordan and Israel will spur opportunities for investment across two continents. This is part of our effort to build a more sustainable integrated Middle East," Biden said at the 78th session of UNGA today.

While highlighting the US' efforts to maximize collective investment to deliver consequential results across multiple countries and multiple sectors, Biden made reference to the rail port project and added, "It demonstrates how Israel's greater normalization and economic connection with its neighbours is delivering positive practical impacts even as we continue to work tirelessly to support just and lasting peace between Israelis and Palestinians." (ANI)