Talks include Europe and UAE as Joe Biden flies to Delhi with aim of rivalling China’s Belt and Road.
The US, Saudi Arabia, India and other nations are discussing a possible infrastructure deal that could reconfigure trade between the Gulf and south Asia, linking Middle Eastern countries by railways and connecting to India by port, according to US officials aware of the conversations.
The talks, which have also included the United Arab Emirates and Europe, may or may not yield a concrete result in time for an announcement on the sidelines of this week’s G20 leaders’ meeting, the officials said.
The conversations have been under way for months and are fluid, one of the officials said.
Joe Biden is on his way to the G20 conference in Delhi, where he is due to meet the Indian prime minister, Narendra Modi, and may also have talks with the Saudi crown prince, Mohammed bin Salman.
The plans for a sweeping, multinational ports and rail deal come at a critical time. To counter China’s Belt and Road global infrastructure push, Biden is pitching Washington as an alternative partner for and investor in developing countries at the G20, especially in the Indo-Pacific region.
It also comes as the Biden administration seeks a broader diplomatic deal in the Middle East that would have Saudi Arabia recognise Israel. The negotiations over a multi-country infrastructure deal were first reported by Axios.
Beyond the diplomatic implications, officials said they hoped such an infrastructure deal could reduce shipping times, cost and the use of diesel and would make trade faster and cheaper.
Saudi Arabia will also participate in an investment forum. The event will be attended by India’s trade minister, Piyush Goyal, and the Saudi minister of investment, Khalid al-Falih, according to the organiser, the Federation of Indian Chambers of Commerce & Industry.
Saudi Arabia is also in talks with Italy about potential Saudi investment in Rome’s new strategic fund, with the kingdom focusing on energy, sustainability, supply chains and sport to expand its presence in the country.
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