[ad_1]
(April 21, 2023 / JNS) A group of bilateral business councils announced a new initiative on April 19 to promote I2U2 Cooperation Between Israel, India, the United States and the United Arab Emirates.
The four countries established I2U2 in October 2021 as an intergovernmental forum for economic cooperation. The group was formed during a phone call between U.S. Secretary of State Anthony Blinken and his counterparts in Israel, the United Arab Emirates and India.
U.S. President Joe Biden, then-Israeli Prime Minister Yar Lapid, Indian Prime Minister Narendra Modi and Mohamed bin Zayed — then the de facto ruler and current president of the United Arab Emirates — — Attended the virtual I2U2 conference last July.
Leaders agreed to create an Israel-backed food corridor between the United Arab Emirates and India in response to wheat shortages caused by Russia’s invasion of Ukraine. Israel and the United Arab Emirates have provided $300 million in financing for clean energy projects in India.
Most recently, I2U2 met in Abu Dhabi on 22 February to discuss food security.
On Wednesday, the UAE-India Business Council, the UAE-Israel Business Council and the US-UAE Business Council signed a Memorandum of Understanding (MoU) to provide private sector support for the I2U2 Foundation’s economic partnership.
The memorandum of understanding was signed in Washington with U.S. Undersecretary of State Jose Fernandez, Deputy Chief of Mission of India to the U.S. Sripriya Ranganathan, Deputy Chief of Mission of Israel to the U.S. Eliaf Benjamin and the UAE Ambassador to the U.S. Co-announced by U.S. Ambassador Yusuf Al. Odaiba.
“We are delighted to be part of this important and far-reaching initiative that will connect the business community and foster stronger cooperation between the governments of the US, UAE, India and Israel,” said UAE President Dorian Barak. Israel Business Council. “Business is the strongest foundation for successful participation in I2U2, which is becoming an important pillar of regional economic integration.”
new agreement—Receive direct support from all four governments—Calling on the participating business councils to collaborate broadly within the framework of I2U2 to “deepen technology and private sector collaboration in the region to address transnational challenges while convening private sector stakeholders to catalyze more business opportunities across six key areas” initiative,” According to the council’s joint statement.
The MoU sets out an agreement to hold events in each country with senior government officials and business leaders; hold virtual meetings with key businesses in core I2U2 sectors, including food security, energy, water, space, transport, health and technology; White papers and research on the potential of the initiative are being written and researched among think tanks and academics in I2U2 countries.
[ad_2]
Source link
