The ‘Global Gateway’ (GG) was officially introduced on December 1st, 2021, with the intention of becoming the European Union’s (EU) and the US’s contribution to the reduction of the global investment gap globally. In accordance with the Sustainable Development Goals of the United Nations for the Year 2030 and the commitments made on this matter by the leaders of the G7 countries beginning in June 2021, the European Union and US has announced that it will invest up to 300 billion euros until 2027 in five key areas: the information technology industry; the environment and energy sector; the transportation sector; the health sector; and education and research. The unprecedented rise of non-western economic superpowers has increased in the last decade. Besides, the amount of investment has also increased to a very high level. So, the situation has somewhat challenged the western powers and even threatened the hegemonic system. As a result, the European Union (EU) and the USA plan to improve connections between Europe and the rest of the world in the following ways: supporting and financing better digital connections; investing in clean energy for climate resilience and mitigation; promoting infrastructure development that is sustainable, smart, and not solely focused on roads; overcoming supply chain bottlenecks, especially in the pharmaceutical aspect, by investing in the development of local manufacturing; overcoming supply chain bottlenecks, especially in the pharmaceutical aspect, by investing in the development of local manufacturing; Overall, the investment process is mainly focused on expanding economic connectivity and cooperation.
– S. M. Saifee Islam is a Research Associate at the KRF Center for Bangladesh and Global Affairs (CBGA).
