PM Modi to join first I2U2 summit: Check the agenda of West Asia’s ‘QUAD’
The first ever I2U2 Leaders summit is taking place later this week virtually, and Prime Minister Narendra Modi, President of the US Joe Biden, President of the UAE Sheikh Mohamed bin Zayed Al Nahyan and Prime Minister of Israel Yair Lapid will focus on food security, space, health, water, energy and transportation.
MEA Statement
According to an official statement by the Ministry of External Affairs (MEA), Prime Minister Modi will be participating virtually in this first leaders summit of the I2U2 (West Asia QUAD) along with other leaders on July 14.
More about I2U2
On October 8, 2021, the foreign ministers of the four countries met and conceptualized this grouping – India, Israel, the US and the UAE. The aim of the grouping is to work on joint investments in six mutually identified areas – Space, Health, Water, Energy, Food Security and Transportation. And the plan is to mobilize funds and expertise from the private sector which will help in promoting the development of critical emerging and green technologies, improving the infrastructure, low carbon development pathways for our industries, and public health.
Agenda of the Summit
According to the MEA statement all the leaders who will be joining virtually, will discuss joint projects as well areas of common areas of mutual interest which will help to strengthen economic partnership in investment and trade of the respective regions and beyond. The possible joint projects can serve as a model for economic cooperation and also offer opportunities for the businesspersons and workers.
There are Sherpa- level interactions of every country on a regular basis and they talk about possible areas of cooperation about I2U2.
Importance of the meeting
This meeting of the West Asia QUAD is one of the key dividends of the Abraham Accord. Under the Abraham Accord ties between Israel and the United Arab Emirates normalized.
The meeting of the leaders coincides with the visit of the US President Joe Biden to West Asia, with stops in Israel, Saudi Arabia and the West Bank this week.
The announcement of such a meeting was made by the White House in June when the visit of the US President to West Asia and Saudi Arabia was made.
Background
The foreign ministers of the four members have already met once last year and the key areas of groupings have been — maritime security, climate and trade.
Biden in Saudi
The visit of the US President is taking place at a time when there has been a surge in the petrol price around the globe. Though the White House has not officially stated that the global energy crisis is on his agenda when he visits Saudi Arabia, an array of issues including normalizing ties with Israel, ending war in Yemen, climate change, Iran and developing “counterterrorism” strategies have been mentioned.