Biden Announces Deal Connecting Europe And West And South Asia
US President Joe Biden announced a multinational rail and ports deal linking Europe, West Asia, and South Asia on 9 September at a gathering on the sidelines of the G20 summit in New Delhi.
The deal, known as the India-Middle East-Europe Economic Corridor (IMEC), comes as the White House seeks to counter China’s Belt and Road Initiative (BRI) and Russia and Iran’s North-South Transportation Corridor (INSTC) by pitching Washington as an alternative partner and investor for developing countries.
A memorandum of understanding for the deal was signed by the European Union, India, Saudi Arabia, the United Arab Emirates, the US, and other G20 partners.