Source – https://www.businesstoday.in/latest/economy/story/india-us-saudi-arabia-uae-in-discussion-for-a-railway-deal-to-connect-middle-east-report-397422-2023-09-08
Publisher – Business Today
A possible infrastructure deal linking Middle Eastern countries by railways and connecting India by port is being discussed by the US, Saudi Arabia and other nations. The railway line could possibly reconfigure trade between the Gulf and South Asia.
According to US officials in the know, the talks have also included the United Arab Emirates and Europe but might not yield a concrete result to be announced during the G20 Summit in Delhi, as reported by Reuters.
The G20 Summit in Delhi, held on September 9 and 10, would set the stage for further conversations. US President Joe Biden is scheduled to meet Prime Minister Narendra Modi today for a bilateral meeting at the prime minister’s residence after his arrival at 6:55 pm. President Biden might also have talks with Saudi Crown Prince Mohammed Bin Salman, who is scheduled to arrive in Delhi today at 4:50 pm.
The conversations regarding the infrastructure deal have been underway for months but are fluid, according to a report in Reuters.
This multi-national ports and rail deal can be seen as a counter to China’s Belt and Road global infrastructure push. President Biden is pitching Washington as an alternative partner and investor in the developing countries at the G20.
Biden is reportedly hoping to persuade fast-growing economies in Africa, Latin America and Asia and assert that there is an alternative to China’s Belt and Road project, which has left a host of developing countries in deep debt.
While Biden said that he was “disappointed” at Xi Jinping’s absence at the G20 Summit, it could work to his advantage.
With the infrastructure deal, officials hope that shipping time, cost, and use of diesel would reduce and make trade faster and cheaper.
