The US, Saudi Arabia, EU, UAE and other G20 partners agreed to explore a shipping corridor project to augment trade between Europe and India.
“I do want to say thank you, thank you, thank you,” Mr Biden said at an event to unveil the initiative, on the sidelines of the G20 summit in New Delhi.
“I don’t think we’d be here without you.”
Mr Biden said the India-Middle East-Europe Economic Corridor would unlock “endless opportunities” and would contribute to “a more stable, more prosperous, and integrated Middle East.”
The move comes amid US efforts for a broader diplomatic deal in the Middle East that would lead to more countries recognising Israel.