The details of the proposed rail route remain thin but EU Commission President Ursula von der Leyen claimed the connection would make trade between India and Europe 40 per cent faster.
Europe, India, the United States, and parts of the Middle East will seize upon Chinese President Xi Jinping's absence at the G20 summit to launch a rail and shipping corridor that could rivalThe project marks the first significant announcement of the G20 meeting in New Delhi, after fears the group of the 20 largest economies would fail to make any major inroads as member nations struggle to reach a consensus on a final communiqué.
“This corridor is much more than just a railway or a cable,” von der Leyen will say. “It is a green and digital bridge across continents and civilisations.”US officials have taken a leading role in the negotiations as the White House looks to take advantage of Chinese President Xi Jinping’s no-show at the G20 and the mounting debt linked to the Belt and Road Initiative.
According to Reuters, a 38-page draft that circulated among member nations left the “geopolitical situation” paragraph blank, while the countries had agreed on the 75 other paragraphs which included climate change, cryptocurrencies and reforms in multilateral development banks.
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