Aiming to encourage joint investment and modernize infrastructure, Indian leaders, Israel, US, and UAE will meet virtually for the first I2U2 Summit on July 14. The meeting had a significance after the Russian-Ukrain conflict increased significantly in crude oil and inflation.

Prime Minister Narendra Modi, along with his partner Israel, Yair Lapid, UAE President Mohammed bin Zayed Al Nahyan and US President Joe Biden will meet virtually. The Summit was held during the Biden trip to Israel from July 13-16, with a stopover in the West Bank and Saudi Arabia.

In the Thursday Summit, the ministry said the leaders would discuss “the possibility of a joint project within the I2U2 framework and other general fields that have a common interest to strengthen economic partnerships in trade and investment in our respective regions and so on. These projects can function as models for economic cooperation and offer opportunities for our entrepreneurs and workers. “

Group I2U2 “aims to encourage joint investment in six areas that are identified together such as water, energy, transportation, space, health, and food security,” said the Ministry of Foreign Affairs. This is intended to mobilize “private sector capital and expertise to help modernize infrastructure, low carbon development channels for our industry, improve public health, and promote the development of technology that arises and critical green.”,

Sharing the details of the visit, a senior US administration official said: “The Summit called I2U2 will discuss the crisis of food security and other fields of cooperation in all parts of the UAE and Israel functions as an important center of innovation.”

The US government has stated that Biden’s visit will focus on “Increasing Israeli integration to the region, both through the Abraham agreement with the UAE, Morocco, and Bahrain; through deeper relationships between Israel, Jordan and Egypt; And also the grouping of completely new partners, including Israel, India, UAE, and the United States – what we call I2U2, “said the official.

Although this will be the first peak level meeting i2u2, previously, the Foreign Minister of four countries met in October 2021. The meeting took place during the visit of Foreign Minister Jaishankar to Israel last year. He joined the Foreign Minister of UAE Sheikh Abdullah bin Zayed, and US Foreign Minister Antony Blinken virtually, while Israeli Foreign Minister Yair Lapid was personally present during the meeting. The ministers have discussed problems around trade, climate and maritime security.