New Delhi [India] : After the India-Middle East-Europe Economic Corridor was launched at the G20 World Leaders Summit in New Delhi, US President Joe Biden has described the project a "game-changing" regional investment. Joe Biden said that this project is about more than just laying tracks. Taking to X, formerly Twitter, Biden said: "I'm proud to announce that the U.S., India, Saudi Arabia, UAE, France, Germany, Italy and EU finalized a historic agreement for a new India-Middle East-Europe Economic Corridor."

"This project is about more than just laying tracks. This is a game-changing regional investment," the US President added. Earlier, PM Modi said the India-Middle East-Europe Economic Corridor "promises to be a beacon of cooperation, innovation, and shared progress. The corridor, according to him, is evidence of human endeavour and unity across continents.

Charting a journey of shared aspirations and dreams, the "India-Middle East-Europe Economic Corridor promises to be a beacon of cooperation, innovation and shared progress. As history unfolds, may this corridor be a testament to human endeavour and unity across continents,” PM Modi wrote on ‘X’ on Saturday.

India, the United States, Saudi Arabia and the European Union on Saturday announced a historic agreement to soon launch a mega India-Middle East-Europe shipping and railway connectivity corridor. Prime Minister Narendra Modi made the announcement for the ambitious project on the sidelines of the G20 Summit and was flanked by US President Joe Biden, Saudi Arabia Prime Minister Mohammed bin Salman and leaders of the EU.

Also Read : G20 Summit: Prime Minister Narendra Modi launches India-Middle East-Europe Economic Corridor

This is a first-of-its-kind initiative on cooperation on connectivity and infrastructure involving India, UAE, Saudi Arabia, EU, France, Italy, Germany and the US. After the launch, PM Modi said, “I cordially welcome you all at this event. I am very happy to co-chair this event with my friend President Joe Biden. Today we all have seen the conclusion of a historic and important agreement. In the coming days, it will be an effective medium of economic integration between India, South Asia, and Europe”. (with agency inputs)