NEW DELHI: The inaugural Business Forum of I2U2 nations - India, Israel, the UAE and the USA - was held in Abu Dhabi on Wednesday, making it the first event of this kind since the launch of the I2U2 group since its leaders' summit in July 2022.
The Forum brought together senior private and public sector representatives from the member nations with discussions held on investment opportunities to address issues related to the management of the energy crisis and food insecurity.
The I2U2 partnership is a grouping focused on driving tangible economic cooperation between its members across a range of sectors, including food security, water, energy, space, transportation, health, and technology.
It aims to mobilize private sector capital and expertise to, among other objectives, help modernize infrastructure, decarbonize industries, improve public health, and promote the development of green technologies.
Hosted by UAE Minister of State Ahmed bin Ali Al Sayegh, the forum was attended by Director General of Israel's Ministry of Foreign Affairs Ronen Levi and, India's Economic Relations Secretary Dammu Ravi, while the US delegation was led by the Under Secretary of State for Economic Growth, Energy, and the Environment Jose W Fernandez.
"The officials reaffirmed their commitment to enhancing economic cooperation under the I2U2 framework, noting the significance of direct engagement between decision makers from I2U2 countries and private sector stakeholders interested in forming a future partnership,” said the MEA.
Ravi reiterated India’s commitment to the I2U2 partnership and made a strong pitch for all stakeholders to work towards achieving tangible progress in all I2U2 initiatives, including setting up an I2U2 Innovation Centre in Gurugram. In line with Prime Minister Narendra Modi’s clarion call for LiFE-Lifestyle for Environment, he urged I2U2 partners to work towards a sustainable and environment-friendly lifestyle for all.
The I2U2 Business Forum aims to become a regular platform for private and public entities from India, Israel, the UAE, and the US to convene and establish tangible joint business ventures in I2U2’s core economic and technological fields.