The United States and India create a new economic Genk, these are its members


sef and Thea Fathanah ArbarCNBC Indonesia


Monday 09/11/2023 4:50 p.m. WIB

Photo: US President Joe Biden and Indian Prime Minister Narendra Modi (via REUTERS/INDIA PRESS INFORMATION OFFICE)

Jakarta, CNBC Indonesia – The United States (US) and India make Genk new economy. This was revealed last weekend, right in the middle of the G20 summit in India.

Besides Washington and New Delhi, this group is also joined by Saudi Arabia, the United Arab Emirates (UAE), France, Germany, Italy and the European Union. They will jointly develop “India-Middle East-Europe Economic Corridor” or the India-Middle East-Europe economic corridor.

This partnership will be linked to investment and development of global infrastructure. In a statement, the White House said this important corridor is expected to boost economic development through increased connectivity and economic integration on both continents.

“So that it paves the way for sustainable and inclusive economic growth,” underlined the government of President Joe Biden on its official website, seen CNBC IndonesiaMonday (9/11/2023).

In his explanation across the hall, the countries involved say this will usher in a new era of connectivity with. There will be a rail line connecting Europe, the Middle East and Asia.

“The United States and our partners aim to connect the two continents into a trade hub and facilitate the development and export of green energy, lay undersea cables, and connect energy networks and transmission lines. telecommunications to expand reliable access to electricity, enable advanced technological innovation in clean energy, and connect communities to a secure and stable Internet,” he explained.

“Across the corridor, we plan to boost existing trade and manufacturing as well as strengthen food security and supply chains. Our approach aims to unlock new investments from partners, including the sector private sector, and to stimulate the creation of quality jobs,” he added.

Meanwhile, International Monetary Fund (IMF) Managing Director Kristalina Georgieva opened her voice on the US-led economic corridor. Georgieva said the corridor should not be exclusive and must be consistent with the spirit of an integrated global economy.

“If we want trade to be an engine of growth, then we need to create corridors and opportunities,” Georgieva said on the sidelines of the G20 summit in India on Sunday, as quoted CNBC International.

“The important thing is to do it in the interest of all and not to exclude others. In this regard, I would encourage all countries to work collaboratively with each other to do so in the spirit of an integrated economy,” he added.

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