Biden and Modi will announce a project that will link the Persian Gulf with Asia at the G20

The president of United States, Joe Bidenand the Prime Minister of India, Narendra Modiwill announce this Saturday on the first day of the summit of the G20 an infrastructure megaproject that will link the Persian Gulf with South Asia.

In a press conference, the “number two” of the White House National Security Council, Jon Finer, announced that the megaproject will consist of a network of railways and ports aimed at improving trade and energy flows from South Asia to he Persian Gulf and with the aim of reaching Europe.

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Specifically, the announcement will come during an event featuring Biden, Modi and other leaders to promote an initiative known as the Partnership for Global Infrastructure and Investment (PGII)which was created by the G7 to counter China in the Asia-Pacific region.

The leaders will sign a memorandum of understanding outlining the objectives of the megaproject and will be signed by the United States, India, Saudi Arabia, the United Arab Emirates (UAE), the European Union and other partners of the G20Finer detailed.

If it becomes a reality, this project would reconfigure trade between the countries of the Persian Gulf and South Asia.

It would also represent a small victory for USAwhich has been trying to counteract the influence of the Chinese “One Belt, One Road” initiative, with which Beijing has financed million-dollar infrastructure projects around the world.

In addition, China has increased its influence in the Middle East in recent years and, for example, acted as an intermediary in the agreement that Saudi Arabia and Iran signed in March to reestablish diplomatic relations.

The Chinese president, Xi Jinpingplans to host leaders from around the world, including his Russian counterpart, Vladimir Putin, in Beijing in October for a forum on the “One Belt, One Road” initiative.

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Source: Elcomercio

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I am Jack Morton and I work in 24 News Recorder. I mostly cover world news and I have also authored 24 news recorder. I find this work highly interesting and it allows me to keep up with current events happening around the world.