Prime Minister Narendra Modi will participate in the first-ever I2U2 (India, Israel, US, UAE) Summit virtually on July 14.
The virtual convention will see in attendance US President Joe Biden, Israel’s interim Prime Minister Yair Lapid, and UAE’s President Mohammed bin Zayed al-Nahyan.
As per the Ministry of External affairs, the focus amongst leaders would be the imminent threats posed to a global population in the wake of the skyrocketing food and fuel prices given the turmoil in Eastern Europe.
The MEA in a press release stressed that the leaders of the four strong economies will shed light on possible joint projects within the framework of the I2U2 grouping. In addition, it will also explore prospects in other common areas of mutual interest in a bid to enhance mutual cooperation and economic partnerships in trade and investment.
Further, the state heads are also expected to deliberate on sustainable and economically beneficial initiatives in the respective regions as well as beyond the territorial boundaries. “These projects can serve as a model for economic cooperation and offer opportunities for our businesses and workers,” the MEA said.
The I2U2 grouping was conceptualised during the meeting with or Foreign Minister of the aforementioned countries in October 2021. It is aimed to encourage joint investments in majorly six sectors identified of significance namely water, energy, transport, space, health, and food security.
“It intends to mobilize private sector capital and expertise to help modernise the infrastructure, low carbon development pathways for our industries, improve public health, and promote the development of critical emerging and green technologies,” the MEA statement said.
In an official statement, the White House said, “We consider these initiatives central to our strategy of empowering partners and encouraging them to work more closely together, which will lead to a more stable region and also to Israel’s security and prosperity over the longer term. US State Secretary Antony Blinken, just last month in the Negev, in southern Israel, met with counterparts from Abraham Accord partners UAE, Bahrain and Morocco, together with Jordan and Egypt, highlighting these deepening regional partnerships.”
