India-West Asia-Europe corridor deal offers an alternative to China's BRI
Belt and Road Initiative (BRI), which has pushed many countries into a debt trap besides losing control over their assets, leaders of India-US-Saudi Arabia-UAE-Europe-Japan on Saturday announced a mega joint infrastructure deal to connect Asia with Europe via ports and railroad.
Prime Minister Narendra Modi launching the project said an India-West Asia-Europe connectivity corridor for economic integration would be launched soon. Modi made the announcement flanked by US President US Biden, Saudi Arabia Prime Minister Mohammed bin Salman, President of UAE, EU and key European leaders on the sidelines of the G20 Summit.
«This corridor will show a sustainable way to the whole world,» the Prime Minister said.
While the US President described it as a game-changer, Ursula von der Leyen, President, European Union said, «It will be the most direct connection between India, Middle East.
and Europe. This will make travel 40% faster.»
The deal will seek to connect the two key Gulf states via a network of railway lines, and further to India via shipping lanes in what would rival BRI in the region.
While China was not named by any of the leaders the reference was clear as key West Asian powers seek to hedge against Beijing. It is no secret that BRI and CPEC (that passes through PoK) have pushed countries into debt trap and have caused strategic challenges.
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