New Delhi: Prime Minister Narendra Modi on Saturday launched the India-Middle East-Europe Economic Corridor during the second session of the G20 Summit, which is currently underway in New Delhi.

"Today we all have reached an important and historic partnership. Strong connectivity and infrastructure base of development of human civilization. India has given the highest priority to this topic. We believe connectivity between different countries increases not only business but trust between them. By promoting connectivity initiative, we need to ensure we stick to philosophies...that is, adhesion to international rules, respect for all nations' sovereignty and regional integrity" Prime Minister Narendra Modi said while launching the India-Middle East-Europe Economic Corridor.

According to the Prime Minister, in times to come, the newly-launched Corridor will become an effective medium for economic integration of India, the Middle East and Europe.

US President Joe Biden said, "It's a big deal, it's a real big deal. "I want to thank Prime Minister (Narendra Modi). One Earth, One Family, One Future that's the focus of this G20 Summit. And in many ways, it's also the focus of this partnership that we're talking about today."

"Building sustainable, resilient infrastructure, making quality infrastructure investments and creating a better future. Last year, we came together as one to commit to this vision. And this afternoon I want to highlight the key ways in which the United States and our partners are working to make this a reality. Economic corridor. You're going to hear that phrase more than once, I expect, over the next decade," added US President Joe Biden.

"As we work to address infrastructure gaps across low-middle-income countries, we need to maximize the impact of our investments. That's why a few months ago announced that the United States will work with our partners to invest in economic corridors," the US President stressed.

French President Emmanuel Macron said, "I just want to thank Prime Minister (Narendra Modi) Modi for organizing this meeting and President (Joe) Biden for sharing this meeting with him. So now with the European Commission here, we commit to invest alongside with you on this road. And this is a very important project from Asia through the Middle East to Europe to offer big opportunities and connect people."

"But our intention is as well to make it real and to be sure that after this commitment we have concrete results and especially to have the first global green trade road meaning having net zero transport infrastructure," added the French President.

Crown Prince of Saudi Arabia Muhammed Bin Salman said, "We look forward to the integration of the initiative and the Economic Corridor project which is announced in this meeting. I would like to thank those who worked with us to reach this founding step to establish this important economic corridor..."

European Commission president Ursula von der Leyen said that the launching of the India-Middle East-Europe Economic Corridor is nothing but historic.

This is a historic and first-of-its-kind initiative on cooperation on connectivity and infrastructure involving India, the United Arab Emirates (UAE), Saudi Arabia, the Europen Union, France, Italy, Germany and the United States.

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