Possible announcement of major infrastructure deal linking Middle East and India at G20.

US, Saudi Arabia, India, and Other Nations Discussing Infrastructure Deal

The United States, Saudi Arabia, India, and other nations are engaged in discussions about a potential⁢ infrastructure deal that ‌could transform⁣ trade between ⁢the Gulf and South ⁤Asia. ⁣The⁢ deal aims to ‌connect Middle Eastern countries through railways and⁤ link them to ⁤India via ports, according to U.S. officials familiar with the conversations.

The talks, which also involve the United Arab Emirates and ‍Europe, may ​or may not result ⁣in a‍ concrete agreement‌ in time for an announcement during this week’s⁢ Group of 20 (G20) leaders meeting.

These conversations have been ongoing for several months ‌and remain fluid, according ‌to​ one of the sources.

President⁢ Joe Biden is en ⁤route to the G20 conference in New Delhi, India, where he is scheduled to meet Indian Prime Minister Narendra Modi and potentially ‌hold‌ discussions⁣ with Saudi Crown Prince Mohammed bin Salman.

The proposed multi-national⁣ deal for ports and railways comes at‍ a crucial moment. As a counter to China’s Belt and Road global infrastructure initiative, Biden⁣ is positioning the United States as an alternative partner and investor in developing⁣ countries, particularly in the Indo-Pacific region.

Furthermore, the‍ Biden administration‌ is seeking a broader diplomatic agreement in the Middle East, which would involve Saudi Arabia ‍recognizing Israel. The ⁤negotiations for this multi-country infrastructure deal‌ were ⁤first reported by Axios.

Aside from the diplomatic implications, officials hope that such an infrastructure deal could lead to reduced shipping times, ​costs, diesel usage, and facilitate faster and cheaper trade.

Saudi Arabia will also participate in an investment forum, attended by​ India’s trade⁣ minister⁤ Piyush Goyal and Saudi minister of investment Khalid al-Falih, as confirmed by the organizer, the Federation of Indian Chambers of Commerce & Industry.

Saudi ‌Arabia is also in discussions with Italy regarding ⁤a potential Saudi investment in Rome’s new strategic fund. The kingdom aims to focus‌ on ⁤energy, sustainability, supply chains, and support to expand its presence in the country.

(Reporting by Steve ‍Holland and Trevor⁢ Hunnicutt; additional reporting by Nidhi Verma and Shivangi Acharya;‍ editing by Heather Timmons, Jamie Freed, Philippa ⁤Fletcher)

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