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.
Key points:
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:
Background:
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’.
About:
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.
Alliances:
It will help India in building alliances — political alliances, social alliances.
