US & UAE discuss progress on India-Middle East-Europe Economic Corridor
US President Joe Biden and UAE's Sheikh Mohamed bin Zayed discussed the India-Middle East-Europe Economic Corridor, launched at the 2023 G20 Summit. The project aims to connect India with Europe through the Middle East, promoting economic growth, ...

At the meeting held at the White House on Monday, Biden and Zayed reaffirmed that the corridor will generate economic growth, increase efficiencies, lower greenhouse gas emissions, and enable the transformative integration of Asia, Europe, and the Middle East, according to a joint statement.
The two leaders underscored that the transformative partnership had the potential to usher in a "new era of international connectivity" to facilitate global trade and clean energy distribution, expand reliable access to electricity, and strengthen telecommunication.
According to the statement, they emphasised the importance of joint initiatives to promote a circular economy and advance sustainable practices, underscoring their commitment to innovation for resource efficiency and environmentally responsible growth.
Earlier, welcoming Zayed to the White House, Biden said UAE is a nation of trailblazers which always looking to the future and making big bets. "That's something our countries have in common, and our people have in common. In fact, it's a cornerstone of our growing cooperation in AI, in clean energy, in space, and investing in infrastructure to connect regions," he said.
Biden also announced plans to make UAE a major defence partner of the United States, which is the only other country after India to get this status.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.