Context: On September 15, two years ago, Israel, the United Arab Emirates and Bahrain signed the United States-brokered Abraham Accords. It was a historic moment for our peoples and nations, fostering new hope for peace and prosperity in the Middle East.
- It brought exciting opportunities for India and its thriving business community, which enjoys strong relations and engagement with our countries.
- New joint ventures among Bahrain, Israel, UAE, and India are being undertaken in critical sectors such as clean energy, health, innovation, technology, agriculture, water, trade, tourism, and sustainability.
- The Accords have paved the way for greater regional and multinational cooperation.
- Expanding economic opportunities continue to reach India.
- One concrete example of high-level economic cooperation between our governments is the formation of the I2U2 Group, established by Israel, India, the UAE, and the United States.
About I2U2 Group:
- I2U2 was initially formed in October, 2021 following the Abraham Accords between Israel and the UAE, to deal with issues concerning maritime security, infrastructure, and transport in the region.
- At that time, it was called the ‘International Forum for Economic Cooperation’.
- That was referred as the ‘West Asian Quad’.
- I2U2 initiative is a new grouping of India, Israel, USA, and UAE.
- In the grouping’s name, ‘I2’ stands for India and Israel, whereas ‘U2’ stands for USA and the UAE.
What will be the Significance of I2U2 for India?
- Advantage from Abraham Accords:
- India will get advantage of the Abraham Accords to deepen engagement with Israel without risking its ties with the UAE and the other Arab states.
- Benefit Market:
- India is a massive consumer market. It’s a massive producer of high-tech and highly sought-after goods as well. India will benefit from this grouping.
- It will help India in building alliances — political alliances, social alliances.
Source: Indian Express
Previous Year Question
Q.1) In which one of the following groups are all the four countries members of G20? (2020)
- Argentina, Mexico, South Africa, and Turkey
- Australia, Canada, Malaysia, and New Zealand
- Brazil, Iran, Saudi Arabia, and Vietnam
- Indonesia, Japan, Singapore, and South Korea