Saudi Crown Prince Arrives in Oman

Saudi Crown Prince Arrives in Oman

Saudi Arabia Urges Swift Launch of Economic Corridor Implementation Measures

Saudi Crown Prince Mohammed bin Salman announced the memorandum of understanding to establish an economic corridor linking India with the Middle East and Europe on the sidelines of the G20 (SPA)

Saudi Arabia asserted the importance of the immediate commencement of developing the necessary mechanisms for the memorandum of understanding (MoU) for an economic corridor project connecting India with the Middle East and Europe.

The project, launched on the sidelines of the G20 Leaders' Summit, aims to enhance economic connectivity, develop and upgrade infrastructure, and boost trade between the involved parties.

Saudi Crown Prince Mohammed bin Salman announced, on Saturday, during his participation at various events on the sidelines of the G20, the signing of a memorandum of understanding to establish the economic corridor.

On Sunday, the Saudi Press Agency said that the memorandum of understanding includes Saudi Arabia, the UAE, the United States, Germany, India, France, Italy, and the European Union.

The project will contribute to developing and upgrading infrastructure, including railways, port connections, and increased flow of goods and services, thus enhancing trade between the parties involved.

It will also extend pipelines for the export and import of electricity and hydrogen to enhance global energy