I2U2 Forum: UAE, US, India, Israel launch website to boost partnership
In a significant step to boost partnership, the United Arab Emirates (UAE), the United States (US), the Republic of India and Israel have reportedly announced the launching of a website for the I2U2 grouping of these four countries.
With the help of the new website of this important forum, the four countries will be able to push private sector companies to submit their business ideas in order to get funding from the grouping.
On the sidelines of the United Nations General Assembly (UNGA) session, the ministers from Israel, the United States, India and the UAE met to reveal about the I2U2 website.
United States Undersecretary for Economic Growth, Energy and the Environment Jose Fernandez, UAE Minister of State Ahmed Ali Al Sayegh, Israel’s Foreign Ministry Director Ronen Levi, and Indian External Affairs Secretary Dammu Ravi met to discuss the new website of I2U2 forum.
UAE’s relations with other I2U2 countries
In recent years, the UAE has established good bilateral relations with other I2U2 countries. Since the establishment of this important forum in 2022, the UAE has made vital efforts to bolster partnership with other three nations.
Earlier this month, UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan took part at the crucial G20 summit in India. During the summit, UAE President, India, US and Saudi Arabia announced a major railway deal, which has the potential to improve significant trade relations among these four nations, by linking railways.
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Notably, the talks on the railway deal took place at a meeting of the I2U2 forum. The four countries wanted to establish a good shipping lane to boost trade.
Last year, the authorities of the UAE and the US signed a vital agreement, wherein they agreed to invest $100 billion in energy projects by 2035. Under the agreement, the officials agreed to provide project management, technical support and funding assistance to sustainable energy projects. The trade relations between both nations have also increased over the past few years.
The UAE and Israel also established diplomatic relations following the signing of the historic Abraham Accords. Israel’s exports to the UAE also increased from $74 million in 2021 to $384 million last year, indicating the good trade relations between both nations.
I2U2 Private Enterprise Partnership
The four countries have also established I2U2 Private Enterprise Partnership with the aim to boost awareness of the I2U2 initiative in business communities. There are new public-private partnerships under the I2U2 Private Enterprise Partnership: the US-UAE Business Council, the UAE-India Business Council and the UAE-Israel Business Council.
