What’s the I2U2 summit that PM Modi will attend virtually? What’s on the agenda?

Prime Minister Narendra Modi is set to participate in the first I2U2 Leaders’ Summit on 14 July. The summit, which will also see leaders of Israel, UAE and the US  participate, is set to be held virtually.

“Prime Minister Shri Narendra Modi will be participating in an I2U2 Summit, along with Prime Minister of Israel Yair Lapid, President of the UAE Mohammed bin Zayed Al Nahyan and President of the USA Joseph R Biden,” the Ministry of External Affairs (MEA) said in a statement.

Let’s take a closer look at the summit and what’s on the agenda:

What does I2U2 stand for?

A senior US administration official told reporters on Tuesday that the new grouping will be called “I2U2” — “I” for India and Israel and “U” for the US and UAE.

What is its origin?

The I2U2 Grouping was conceptualised during the meeting of the foreign ministers of the four countries held on 18 October.

“Each country also has Sherpa-level interactions regularly to discuss the possible areas of cooperation,” the MEA said.

What is it aimed at?

I2U2 is aimed to encourage joint investments in six mutually identified areas such as water, energy, transportation, space, health, and food security.

It intends to mobilise private sector capital and expertise to help modernise infrastructure, low carbon development pathways for our industries, improve public health, and promote the development of critical emerging and green technologies.

The leaders will discuss the possible joint projects within the framework of I2U2 as well as the other common areas of mutual interest to strengthen the economic partnership in trade and investment in our respective regions and beyond.

These projects can serve as a model for economic cooperation and offer opportunities for our businesspersons and workers.

What’s the agenda?

The I2U2 summit is expected to give greater shape to the grouping’s agenda that is focused on economic cooperation and infrastructure projects, people familiar with the matter told Hindustan Times.

The countries have said there is no military angle to their cooperation and are pushing a constructive agenda focused on the economy, especially infrastructure projects, as per Hindustan Times.

However, some have called the I2U2 the ‘West Asian Quad’.

 

 

Indeed Ahmed Albanna, Ambassador of UAE to India, had in October 2021 referred to the new grouping as such, as per Indian Express.

Former ambassador Zikrur Rahman agreed, telling Hindustan Times. “This is like a Quad for West Asia and I see a role for India as a facilitator and moderator in ensuring issues are resolved with Iran through wisdom and negotiations,” he said.

White House eyes boost

The virtual summit of the four countries comes amid President Joe Biden’s trip to West Asia from 13 to 16 July.

According to the White House, the meeting is part of the Biden administration’s efforts to re-energise and revitalise American alliances across the world.

The US is also planning to use the summit to project itself as a proponent of development and growth in the region.

It also aims to stop China from expanding its influence in a region where the US historically has provided security and defence-related aid.

The White House is also looking to boost the acceptability of Israel among its Gulf neighbours building on the Abraham Accords.

Israeli experts said they believe I2U2 will build on the Abraham Accords.

 

“It is hard to overstate how important it is. The entire periphery of Iran is extremely important [for Israel] because of its location and its economic power. The US is supporting India as a counterweight to China – these are two old rivals,” Danny Ayalon, a former Israeli envoy to the US, told The Jerusalem Post.

Biden is looking forward to this unique engagement with Bennett, Modi, and Zayed the official said.

State department spokesperson Ned Price said that each of these countries are technological hubs.

“India is a massive consumer market. It is a massive producer of high-tech and highly sought-after goods as well. So, there are a number of areas where these countries can work together, whether its technology, trade, climate, COVID-19, and potentially even security as well,” he said.

“Part of our approach from the start is not only to revitalise and re-energise our system of alliances and partnerships around the world, but also to stitch together partnerships that did not exist previously or were not utilised to their full extent,” Price said.

“Biotechnology is also prominent. Deepening trade and economic ties between these countries is in our interest when it comes to the relationship between Israel and the UAE. That is something we have sought to deepen. These two countries have deepened their relationship in recent years, including in the economic realm,” Price added.

With inputs from agencies

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