Bilateral Business Council Announces Formation of I2U2 Business Alliance

The UAE-India Business Council, the UAE-Israel Business Council and the US-UAE Business Council today signed a Memorandum of Understanding (MOU) to promote the I2U2 initiative and enlist private sector support for India, Israel, the United Arab Emirates and the United States.

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Danny Sebright, Chairman of the US-UAE Business Council, HE Sripriya Ranganathan, Deputy Chief of Mission of India to the United States, Mr. Eliav Benjamin, Deputy Chief of Mission of the Israeli Mission to the United States, HE Yousef Al Otaiba, UAE Ambassador to the United States, and US State Department for Economic Growth, Energy and Undersecretary of State for the Environment, Undersecretary Jose Fernandez. (Photo: Business Wire)

The governments of India, Israel, the United Arab Emirates and the United States formed the I2U2 Group in July 2022 with the goal of “addressing some of the greatest challenges facing our world” by leveraging the emerging and prosperous economies of the four member countries. In a joint statement , the leaders of the four countries “expressed the group’s intention to focus specifically on joint investments and new initiatives in water, energy, transport, space, health and food security.” I2U2 recently held its inaugural business forum^nd Government officials and private sector representatives from the four member countries discussed concrete and sustainable opportunities for collaboration. During this forum, India also formally joined the Agriculture Innovation Mission Initiative for Climate (AIM for Climate).

The MoU is an agreement between the councils to collaborate broadly within the framework of the “I2U2 Business Alliance”. The MoU aims to deepen technology and private sector collaboration in the region to address transnational challenges, while bringing together private sector stakeholders to facilitate more business opportunities across the six focus areas of the initiative.

Specifically, the parties agree to:

• Organized a series of events in India, Israel, the United Arab Emirates and the United States with key government officials to draw attention to the I2U2 initiative and raise awareness of its potential among the business communities in these four countries.

• Convene a series of virtual working group meetings of key players in industries of particular interest to the I2U2 initiative: food security, energy, water, space, transportation, health and technology.

• Publishes a series of studies and white papers on the potential of I2U2 by leading think tanks, academics and thought leaders in the US, UAE, India and Israel.

• Create a series of video interviews about the I2U2 initiative that can be co-shared on their platform.

MOU Announced April 19 in Washington, D.C.^day During an event with Deputy Secretary of State Jose Fernandez, an I2U2 advocate in the US government, Sripriya Ranganathan, Deputy Chief of Mission of India and Deputy Chief of Mission of Israel to the United States ( Sripriya Ranganathan), Mr. Eliav Benjamin and His Excellency Yousef Al Otaiba, UAE Ambassador to the United States.

Faizal Kottikollan, Chairman of the UAE-India Business Council, spoke of the potential for quadrilateral cooperation between India, Israel, the UAE and the US, saying: “The I2U2 Group, the Hon. With increased certainty and a good example of pragmatic cooperation”, cooperation between the two countries has been steadily advancing in some areas. We at the UAE-India Business Council (UIBC UC) are committed to rallying our members’ support for this small multilateral agreement through the signing of the Memorandum of Understanding today , with the goal of achieving the common economic interests of the group and the three member organizations.”

Dorian Barak, Chairman of the UAE-Israel Business Council, said of the new I2U2 Business Alliance, “We are delighted to be part of this important and far-reaching initiative that will connect the business community to foster closer cooperation between the governments of the US, UAE , India and Israel. Business is the strongest foundation for successful participation in I2U2, which is becoming an important pillar of regional economic integration.”

Danny Sebright, Chairman of the US-UAE Business Council, said of the initiative: “We are extremely pleased to have the endorsement of this important new initiative by Under Secretary Fernandez and the governments of India, Israel and the UAE. A unique partnership of key stakeholders that will undoubtedly bring value to the business community and our collective membership in all four countries.”

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