EU and USA launch massive ship and rail project with partners
The plan aims to better connect Europe, the Middle East and India and limit China’s influence in the Middle East.
US President Joe Biden spoke of the “Historic Economic Pathway”, one of America’s most important initiatives at the G20 summit.
Photo: Ludovic Marin (AFP)
The European Union, the United States and other allies have launched a major rail and shipping project. It aims to better connect Europe, the Middle East and India, officials announced at the G20 summit in New Delhi on Saturday. “This is nothing short of historic,” said Ursula van der Leyen, president of the European Commission. She spoke of a more direct link between India, the Persian Gulf and Europe – a rail link that would speed up trade between India and Europe by 40 per cent. And in response to China’s push for a “New Silk Road”. This project is considered.
US President Joe Biden spoke of a “historic economic corridor”. So the United States, India, Saudi Arabia, the United Arab Emirates and the European Union have agreed to a declaration of intent. “Axios” news website previously reported that this is one of Washington’s “most important efforts” to curb China’s influence in the Middle East.
With the “New Silk Road”, China supports infrastructure projects around the world and wants to open new trade routes to Europe, Africa, Latin America and Asia. It has many agreements with almost all Arab countries.
Funded by an EU initiative
The plan is intended to spur development in several key areas of the world, said Biden adviser Jake Sullivan. It would also improve coordination across the Middle East – involving “some unlikely partners” in the region. India should also connect with Europe to not only enable “more efficient transport of goods”, but also strengthen cooperation in the energy and digital sectors. “We believe the plan is bold and transformative,” Sullivan said. He reckons it will find followers worldwide.
The project is being funded by the European Union initiative Global Gateway. It plans to invest up to 300 billion euros in infrastructure in emerging and developing countries over the next few years. The project competes with China’s “New Silk Road,” which the People’s Republic has been operating in several countries for years. For example, projects for energy production with climate-neutral hydrogen in Africa and a new underwater cable link for data transport between the European Union and Latin America are already planned.
Expansion of power grids and energy projects are also part of the announced plan. High-speed data cables are also part of the project. According to reports, clean energy trade between Asia, the Middle East and Europe will be strengthened by power cables and a pipeline for clean hydrogen. According to the White House, pipelines from Israel to Europe will provide clean hydrogen to Europe.
It is interesting that Israel is part of this effort. Recently there have been reports of movement on a possible reconciliation between Saudi Arabia and Israel. However, Biden adviser Jake Sullivan stressed that this is not a precursor to normalizing relations between the two countries. But it is significant that Israel is part of this vision.
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