NEW DELHI: With a focus on joint investments and trade partnerships, the first I2U2 Summit will be held virtually on July 14, with Indian Prime Minister Narendra Modi, Israeli Prime Minister Yair Lapid, UAE President Sheikh Mohamed bin Zayed Al Nahyan, and US President Joe Biden attending the event.
The meeting will coincide with Biden’s visit to the Middle East. The I2U2 (India, Israel, the US and the UAE) grouping was conceptualised during the meeting of the foreign ministers of the four countries, which was held on October 18, 2021.
Each country also has Sherpa-level interactions regularly to discuss the possible areas of cooperation.
“I2U2 is aimed at encouraging joint investments in the six mutually identified areas of water, energy, transportation, space, health, and food security.
It intends to mobilise 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,’’ according to a statement issued by the Ministry of External Affairs.
The four leaders are expected to discuss the possible joint projects within the framework of I2U2 as well as the other common areas of mutual interest to strengthen the economic partnership in trade and investment in the respective regions and beyond. These projects can serve as a model for economic cooperation and offer opportunities for businesspersons and workers.