The first virtual summit of India, Israel, the United Arab Emirates (UAE), and the United States of America (USA) dubbed “I2U2″—“First I2U2 Leaders’ Virtual Summit 2022”—was held on July 14, 2022. It was virtually attended by Narendra Modi, Prime Minister (PM) of India; Yair Lapid, Caretaker PM of Israel; Mohammed bin Zayed Al Nahyan, President of the UAE; and Joseph R. Biden, President of the USA.
- The summit was organized while Biden was in Israel as part of his maiden trip to West Asia as President of the US, and it was hosted by Israel’s Caretaker PM Yair Lapid.
The summit is aimed at encouraging joint investments in 6 mutually identified areas such as water, energy, transportation, space, health, and food security.
- The “I2U2” grouping—in which “I” stands for India and Israel and “U” for the US and the UAE—is envisioned as the Quad for West Asia.
The Origin of the I2U2
The I2U2 Grouping was conceived during a conference of the Foreign Ministers of four countries—India, Israel, the United States, and the United Arab Emirates—on October 18, 2021.
- In order to discuss potential areas of collaboration, each nation also regularly engages in Sherpa-level interactions.
Highlights of the First I2U2 Virtual Summit 2022
i. The leaders have addressed the possibilities for joint projects within the I2U2 framework as well as other areas of mutual interest to strengthen the economic partnership in trade and investment.
- These initiatives can offer opportunities for the businesspeople and employees and act as a model for economic cooperation.
ii.During US President Joseph R. Biden’s visit to Israel, Israel’s President, Isaac Herzog, awarded him the highest civilian accolade of Israel – the Presidential Medal of Honor, in recognition of his 50 years of political support for the country.
Joint Statement of the Leaders of India, Israel, United Arab Emirates, and the United States (I2U2)
i. The I2U2 group aims to mobilize private sector funding and expertise to modernize infrastructure, advance low-carbon development pathways for their industries, enhance public health and access to vaccines, and promote physical connectivity between Middle Eastern nations.
ii.Along with assuring short- and long-term food and energy security, it also intends to jointly develop novel waste treatment solutions, explore potential for joint financing, connect startups to I2U2 investments, and encourage the development of vital emerging and green technologies.
iii. The leaders reiterated their adherence to the Abraham Accords and other agreements for normalization and peace with Israel.
iv.The leaders appreciated other new groupings of countries, such as the Negev Forum for Regional Cooperation, which recognize the unique contributions of each partnercountry, particularly Israel’s capacity to act as an innovation hub bridging new allies.
Click here to read the Joint statement of the I2U2 Leaders
Initiatives Highlighted by the I2U2 Leaders
Food Security: UAE to invest USD 2 billion to develop Integrated Food Parks in India; US and Israel to provide technology
During the First I2U2 Leaders’ Virtual Summit 2022, the UAE has announced an investment of USD 2 billion to develop a series of Integrated Food Parks across India, to address rising demand in South and West Asia.
- The food parks will incorporate cutting-edge climate-smart technologies to lessen food waste and spoilage, conserve fresh water, and use Renewable Energy (RE) sources.
The I2U2 leaders explored creative strategies to guarantee longer-term, more diversified food production and food distribution systems that can better manage global food shocks.
Note: UAE is home to the International Renewable Energy Agency (IRENA) and it will host the Conference of Parties-28 (COP28) in 2023.
Assistance Offered by The I2U2 Countries
i. India would provide the project with the required land and support the integration of farmers into the food parks.
ii.The private sectors in the US and Israel will be invited to contribute their expertise and provide creative solutions that improve the project’s overall sustainability.
iii. With these investments, agricultural yields will be increased and food insecurity in South Asia and the Middle East would be reduced.
iv.The leaders reaffirmed their commitment to utilizing established markets to develop more creative, inclusive, and science-based solutions to improve food security and the sustainability of food systems.
v.The leaders also hailed India’s interest in joining the US, the UAE, and Israel in the Agriculture Innovation Mission for Climate initiative (AIM for Climate).
Clean Energy: I2U2 Group Will Advance Hybrid Renewable Energy Project in Gujarat Consisting of 300 MW of Wind and Solar Capacity
During the First I2U2 Leaders’ Virtual Summit 2022, the US has announced to advance a hybrid RE project in Dwarka, Gujarat State, India, that consists of 300 megawatts (MW) of wind and solar power and is supplemented with a battery energy storage technology.
- A feasibility study for the USD 330 million project was funded by the US Trade and Development Agency.
The Project’s Prospective
i. In order to emphasize prospects in the private sector, Israel and the US plan to collaborate with the UAE and India.
ii.Companies based in the UAE are looking for opportunities to act as crucial knowledge and investment partners.
iii. Indian businesses are eager to take part in this initiative and help India reach its 2030 target of 500 GW of non-fossil fuel capacity.
- Such initiatives could turn India into a hub for alternative supply chains in the RE industry.
About United States of America (USA):
President – Joseph R. Biden
Capital – Washington, D.C.
Currency – United States Dollar (USD)
