Global Britain was hobbled again today as the EU and US agreed on a major trade corridor linking Europe with India and the Middle East.
By Oliver Murphy
Global Britain was hobbled again on Saturday as the G20 saw the agreement of a major trade corridor linking Europe with India and the Middle East.
The US and EU backed a mega joint infrastructure project to establish an economic corridor connecting Europe with the Middle East and India via rail and sea in a bid to encourage economic growth and foster cooperation.
Announced during an afternoon session at the G20 leaders’ summit in Delhi, the project would help boost trade, deliver clean energy resources, and improve digital connectivity.
The corridor, called the Partnership for Global Infrastructure Investment, would link India, Saudi Arabia, the United Arab Emirates, Jordan, Israel, and the EU through shipping ports and rail routes.
The Indian prime minister, Narendra Modi, described the scheme as a “beacon of cooperation, innovation, and shared progress”, while US President Joe Biden described the agreement as a “really big deal”.
European Commission president, Ursula von Der Leyen, described it as a “green and digital bridge across continents and civilizations”.
The corridor which would bolster existing maritime and road transport proposes the installation of undersea cables to link individual energy grids and phone lines in a bid to expand access to electricity and stable Internet.
The initiative which could boost trade between India and Europe by 40% presents an alternative to China’s extensive economic corridor, the Belt and Road project, which has sought to take advantage of emerging economies.
It comes as the UK continues to negotiate with several countries to draw up new agreements as part of its status as an independent trading nation.
The government announced the UK’s priorities for 2023 include progressing negotiations with India, Canada, Mexico, Israel, and the Gulf Cooperation Council (GCC).
But the UK’s seeming absence as a signatory to the major trade corridor announced on Saturday has turned heads.
The initiative was launched under the UK’s presidency of the G7 summit in May to provide reliable sources of financial for funding of vital infrastructure in “low and middle-income countries”.
Prime Minister Rishi Sunak confirmed at the time that the UK would “aim to mobilize $40 billion in financing” for sustainable economic development by the end of 2027.
He said: “We know the transformative power of reliable, responsible private investment. It’s the spark that is helping us to build ports in Senegal and Somaliland, hydropower projects in Rwanda, and offshore wind in India.
“The UK is committed to ensuring the Partnership for Global Infrastructure and Investment delivers the financing the world needs to lift communities out of poverty.”
Reaction
Users of social media platform ‘X’, formerly known as Twitter, were quick to point out the UK’s absence from the initiative. Here’s a pick of the best reactions:
Everyone except the UK. https://t.co/dZjzyxavYj
— Alex Andreou (@sturdyAlex) September 10, 2023
Why is the UK not a founding signatory to this? @RishiSunak is attending the #G20Summit, so it's quite striking as to how or why the UK isn't around the table for this.
Surely must be raised this in Wednesday's #PMQs, unless clarification comes before then. #PGII https://t.co/Dp2peNrj2R
— Chris Bell (@ChrisMartynBell) September 9, 2023
https://twitter.com/faisalislam/status/1700603098773782602
Looks like the UK has been left out of another major international initiative, either because we're too demanding, or because we're not needed. Either way, not a good look for Sovereign Global Brexit Britain. https://t.co/uDzE7NzsuF
— Edwin Hayward (@edwinhayward) September 9, 2023
The UK is far out at sea, we are not in a boat, we are floating in the water after having left our boat in 2016, our clothes are waterlogged and we are slowly sinking. We can get back in the boat and sail safely into the future. https://t.co/XPlg3UnWtb
— Dr Martin Opposes Gov’t Corruption (@MartinRemains) September 9, 2023
https://twitter.com/Nicoledso/status/1700652754471948572
https://twitter.com/Guy_Stallard/status/1700627789857030272
