Important agreement during the G20. Serious competition for the Chinese initiative

The two-day G20 summit will take place in Delhi. There is information that world leaders have concluded an agreement on a railway corridor from India to the Middle East and Europe.

As the American agency Reuters reported, on the sidelines of the G20 summit in Delhi, the world’s political leaders announced an international agreement on the creation of two railway corridors connecting Indian ports with Middle Eastern and European countries.

Corridors to India

The signatories to the Memorandum of Understanding on the corridor include: US, India, European Union, Saudi Arabia and the United Arab Emirates. Reuters points out that this agreement is important for Washington because it could counterbalance China’s Belt and Road initiative and its impact on global infrastructure.

The protocol assumes that the initiative will consist of two separate corridors, the eastern one connecting India to the Persian Gulf and the northern one connecting the Persian Gulf to Europe.

Cables for electricity lines and data transmission are to be laid along the rail route, as well as pipelines for hydrogen produced from renewable energy for use in the energy industry. The goals of the project include: shortening transportation time, reducing costs and fuel consumption.

USA happy

The agency quotes a brief comment from the US president, who made no secret of his satisfaction with the summit’s decision. “This is a very big problem that will connect ports on two continents and lead to a more stable, prosperous and integrated Middle East,” Joe Biden said.

Indian Prime Minister Narendra Modi, who hosted the conference, also expressed his satisfaction. He said such a major project to connect India with Europe and the Middle East “seeds” great benefits for future generations.

Let us not forget that Xi Jinping and Vladimir Putin did not come to the summit in India. China and Russia are represented by lower-level officials.

Source: Do Rzeczy