Joint investment in six sectors agreed at I2U2 summit

In the first summit of the four-nation grouping I2U2 (India-Israel-UAE-USA), there has been an agreement to increase joint investment in six key areas of water, energy, transport, space, health and food security.

Addressing the summit virtually, Prime Minister Narendra Modi said on Thursday that the summit has common perspective and common interests.

Modi said I2U2 has set a positive agenda right from its first summit.

“We have identified joint projects in many areas, and have also prepared a roadmap to move forward with them. It is clear that the vision and agenda of ‘I2U2’ is progressive and practical.

“By mobilising the mutual strengths of our countries – capital, expertise and markets – we can accelerate our agenda, and contribute significantly to the global economy. Our cooperative framework is also a good model for practical cooperation in the face of increasing global uncertainties,” the Prime Minister said.

The I2U2 was conceptualised during the meeting of the foreign ministers of the four countries — India, Israel, the UAE and the US — held on October 18, 2021. Each country also has Sherpa-level interactions regularly to discuss the possible areas of cooperation.

Israel Prime Minister Yair Lapid, UAE President Mohammed bin Zayed Al Nahyan and US President Joe Biden attended the summit.

Modi also congratulated Yair Lapid for assuming charge as Israel Prime Minister.

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