UAE to host first I2U2 vice-ministerial meeting
I2U2 is a joint initiative of India, Israel, the USA, and the UAE. I2 stands for Israel and India. U2 stands for USA and UAE. The main objective of the initiative is security cooperation, technological hubs, food security, and other different energy fields. The UAE recently hosted the vice-ministerial meeting of I2U2. It was held in Abu Dabi. It was attended by the Economic Growth, Energy, and Environment secretary of the USA, the Prime Minister of Israel, PM Modi, and the UAE President.
I2U2 Vice-Ministerial meeting
This is the first meeting of its kind. During the meeting, the leaders discussed regional cooperation opportunities and investment opportunities among the countries. They also discussed food insecurity and energy crisis issues.
Benefits for India
The grouping helps India gain political and social alliances. India can take the advantage of Abraham Accord and deepen its relationship with Israel without affecting its ties with UAE and the Arab world. Abraham Accord was signed by USA, Israel and UAE. The agreement normalized the relations between the three.
Within the first two meetings, India gained 2 billion USD of investments in the states of Gujarat and MP in the field of hybrid energy projects.
Principled Vision of I2U2
The leaders of the initiative aim to increase private sector investments in the field of clean energy, emerging technologies, and waste treatment. The first summit of the initiative was held in 2022.
Month: Current Affairs - February, 2023
Category: International / World Current Affairs