New Delhi, India (CU)_ Prime Minister Narendra Modi will join the presidents of the United States, Israel, and the United Arab Emirates for the inaugural virtual summit of the new four-nation organization I2U2 to explore collaborative economic initiatives to strengthen trade and investment ties.
In addition to Indian Prime Minister Narendra Modi, Israeli Prime Minister Yair Lapid and United Arab Emirates President Sheikh Mohammed bin Zayed Al-Nahyan will attend the summit organized by US Vice President Joe Biden, who is now in West Asia till July 16. Under the group name I2U2, “I” stands for India and Israel, while “U” stands for the United States and UAE.
According to the Ministry of External Affairs (MEA), the leaders will discuss the possible cooperative projects within the scope of I2U2 and other areas of mutual interest to enhance the economic collaboration in trade and investment in the respective regions and beyond. MEA stated that these initiatives may serve as an example of economic cooperation and provide opportunities for the entrepreneurs and workers of member countries.
According to the MEA, the I2U2 is intended to foster cooperative investments in six mutually recognized sectors, including water, energy, transportation, space, health, and food security. It said, “It intends to mobilize private sector capital and expertise to help modernize the infrastructure, low carbon development pathways for our industries, improve public health, and promote the development of critical emerging and green technologies”.
The I2U2 summit was formulated on October 18 last year at the meeting of four nations’ foreign ministers. Additionally, each nation holds frequent Sherpa-level talks to discuss potential areas of collaboration. The leaders will also discuss how to tackle the global food and energy problems caused by the Ukraine war.
