PM Modi to attend I2U2 summit for the first time today

This will be the first leaders’ summit of I2U2 to be held virtually.

The leaders will discuss possible joint projects within the framework of I2U2 as well as other common areas of mutual interest to strengthen economic partnership in trade and investment in our respective regions and beyond. According to a statement by the Ministry of External Affairs (MEA), these projects can serve as a model for economic cooperation and provide opportunities for our businessmen and workers.

I2U2 stands for India, Israel, the United Arab Emirates and the US, and is also referred to as the ‘West Asian Quad’ by Ahmed Albanna, the UAE Ambassador to India.

I2U2 aims to encourage joint investment in six mutually identified sectors such as water, energy, transport, space, health and food security, the MEA said.

The group intends to channelize private sector capital and expertise to help modernize infrastructure, drive low-carbon growth for our industries, improve public health, and promote the development of critical emerging and green technologies, the statement said. To collect.

The Ministry of External Affairs said that these projects can serve as a model for economic cooperation and provide opportunities for our businessmen and workers.

The I2U2 grouping was conceptualized during the meeting of foreign ministers of four countries held on 18 October last year. There are also regular Sherpa level talks in each country to discuss possible areas of cooperation.

The group also points to India’s growing engagement with countries in West Asia, including Israel, with whom India has developed close ties over the years under PM Modi.

Two weeks ago, soon after Vice President Venkaiah Naidu’s visit in May this year, Prime Minister Modi made a short visit to the United Arab Emirates after attending the G7 summit.

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