Modi to participate in first India-Israel-UAE-USA Leaders' Virtual Summit
New Delhi, July 12, 2022
Prime Minister Narendra Modi will join Israel Prime Minister Yair Lapid, United Arab Emirates (UAE) President Mohammed bin Zayed al Nahyan and United States President Joe Biden in the first I2U2 Leaders' Summit to be held in the virtual mode on July 14.
The I2U2 Grouping was conceptualized during the meeting of the Foreign Ministers of the four countries held on October 18, 2021.
Each country also has Sherpa-level interactions regularly to discuss the possible areas of cooperation, a press release from the Ministry of External Affairs said.
The release said I2U2 is aimed at encouraging joint investments in six mutually identified areas such as water, energy, transportation, space, health, and food security.
"It intends to mobilize private sector capital and expertise to help modernize the infrastructure, low carbon development pathways for our industries, improve public health, and promote the development of critical emerging and green technologies," the release said.
"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," the release added.