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I2U2's emphasis on economic cooperation

Tags: International Relations

According to the Indian Ministry of External Affairs, Prime Minister Narendra Modi will participate in the first meeting of the 'I2U2' group to be held digitally on July 14 2022. 

  • Apart from the Indian Prime Minister, US President Joe Biden, Israel Prime Minister Yair Lapid, UAE President Mohamed bin Zayed Al Nahyan will participate in the 'I2U2' group meeting.

  • "The first meeting of the 'I2U2' group consisting of India, Israel, the US and the United Arab Emirates (UAE) will be held on July 14 through digital means," according to a statement from the ministry.

  • According to the Ministry of External Affairs, in this meeting the leaders of the group will discuss possible joint projects under the 'I2U2' framework and cooperation in other areas of mutual interest, including deepening economic ties in trade and investment in their region and beyond.

  • The ministry said that these projects can serve as a 'model' for economic cooperation and will present opportunities for our businessmen and workers.

I2U2:

  • According to the statement, the concept of the I2U2 group was presented at the meeting of the foreign ministers of the four countries on October 18, 2021. Each of these countries have been holding regular Sherpa-level discussions on possible areas of cooperation.

  • The I2U2 group aims to promote joint investment in six shared shared sectors such as water, energy, transport, space, health and food security.

    • Under this, emphasis has been laid on modernization of infrastructure, development of industries through low carbon, improving public health and promoting the development of important emerging sectors and green technology.

  • In the context of the I2U2 meeting, the summit is expected to discuss the global food and energy crisis arising out of the Ukraine conflict.

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