NEW DELHI: Global leaders announced a multinational rail and ports deal linking the Middle East and South Asia on Saturday on the sidelines of the G20 summit in New Delhi.
The pact comes at a critical time as US President Joe Biden seeks to counter China’s Belt and Road push on global infrastructure by pitching Washington as an alternative partner and investor for developing countries at the G20 grouping.
Biden said it was a “real big deal” that would bridge ports across two continents and lead to a “more stable, more prosperous and integrated Middle East”.He said at an event announcing the pact that it would unlock “endless opportunities” for clean energy, clean electricity and cable networks to connect communities.
Prime Minister Narendra Modi of summit host India said: “Today, as we embark upon such a big connectivity initiative, we are sowing the seeds for future generations to dream bigger.” The deal will benefit low- and middle-income countries in the region, and enable a critical role for the Middle East in global commerce, Jon Finer, the US deputy national security adviser, told reporters.
A memorandum of understanding for the deal was set to be signed by the European Union, India, Saudi Arabia, the United Arab Emirates, the US and other G20 partners.Source: Reuters
