The European Union, the US and other partners have launched a massive rail and shipping project. It is intended to better connect Europe, the Middle East and India, those involved announced on Saturday at the G20 summit in New Delhi. “This is nothing but historic,” said European Commission President Ursula von der Leyen. She spoke of the most direct connection yet between India, the Persian Gulf and Europe – with a rail link that would speed up trade between India and Europe by 40 percent. The project is also seen as a response to China’s “New Silk Road” initiative.
US President Joe Biden also called the project ‘historic’. It opened up endless new possibilities. The United States, India, Saudi Arabia, the United Arab Emirates and the European Union have therefore agreed on a corresponding declaration of intent. The news portal ‘Axios’ had earlier reported that it was one of Washington’s “key initiatives” aimed at curbing China’s influence in the Middle East.
With the ‘New Silk Road’, China supports infrastructure projects worldwide and aims to open new trade routes to Europe, Africa, Latin America and Asia. It has signed numerous agreements with virtually all Arab states.
Promoting growth and improving integration
The project is intended to promote growth in several crucial regions of the world, says Biden adviser Jake Sullivan. It will also improve integration in the Middle East – involving “some unlikely partners” in the region. India also needs to be connected to Europe in a way that not only enables ‘more efficient freight transport’ but also strengthens energy and digital cooperation. “We believe the project is bold and transformative,” said Sullivan. He assumes that it will find imitators worldwide.
The project is funded, among others, through the EU Global Gateway initiative. It plans to invest up to 300 billion euros in the infrastructure of emerging and developing countries in the coming years. The project competes with China’s ‘New Silk Road’, which the People’s Republic has been working on for years in many countries. For example, projects are already planned for energy production with climate-neutral hydrogen in Africa and a new underwater cable connection for data transport between the EU and Latin America.
Expansion of electricity grids and energy projects
Part of the now announced project also includes the expansion of electricity grids and energy projects. High-speed data cables are also part of the plan. According to the information, clean energy trade between Asia, the Middle East and Europe will also be strengthened with power cables and a clean hydrogen pipeline. According to the White House, the construction of pipelines from Israel to Europe will deliver clean hydrogen to Europe.
The fact that Israel is part of the initiative is interesting. Recently there had been reports of movement towards a possible rapprochement between Saudi Arabia and Israel. However, Biden adviser Jake Sullivan emphasized that this is not a harbinger of normalizing relations between the two countries. But it is “significant that Israel is part of this vision.”
The G7 group of leading democratic industrialized countries launched a global infrastructure initiative more than two years ago to compete with China. The project goes back to Biden’s initiative and is considered the framework for the new project that has now been announced. The goal is to mobilize hundreds of billions of dollars for infrastructure investments. Investments should also be made in new railway lines in Africa. (sda/dpa)
Soource :Watson
I am Amelia James, a passionate journalist with a deep-rooted interest in current affairs. I have more than five years of experience in the media industry, working both as an author and editor for 24 Instant News. My main focus lies in international news, particularly regional conflicts and political issues around the world.
