I2U2 aims to mobilise private sector capital and expertise to help modernise infrastructure, decarbonise industries, improve public health, and promote the development of green technologies. The inaugural business forum under the I2U2 (India-Isreal-UAE-US) mechanism on Wednesday focused on potential partnerships in the fields of food security, energy, water, space, transport, health, and technology. Inaugural I2U2 Business Forum held in Abu Dhabi.
The I2U2 business forum, held in Abu Dhabi in the United Arab Emirates (UAE), brought together senior private and public sector representatives from the four countries to discuss opportunities for cooperation between the business communities. This was the first event of its kind since the official launch of the I2U2 grouping during a leaders’ summit last July. The I2U2 grouping focuses on driving economic cooperation between its members in sectors such as food security, water, energy, space, transportation, health, and technology.
The companies and private sector representatives participating in the business forum “exchanged insights and discussed potential partnerships during seven parallel sessions focused on the food security, energy, water, space, transport, health, and technology fields”, the external affairs ministry said in a statement.I2U2 aims to mobilise private sector capital and expertise to help modernise infrastructure, decarbonise industries, improve public health, and promote the development of green technologies.
As part of these efforts, the UAE is exploring a possible $2-billion investment for integrated agricultural facilities across India and the developement of a 300-MW wind and solar power plant in Gujarat. The I2U2 business forum was addressed by UAE minister of state Ahmed Al Sayegh, US under secretary of state Jose Fernandez, secretary (economic relations) Dammu Ravi of the external affairs ministry, director general Ronen Levi of Israel’s foreign ministry, and Brett McGurk, the White House coordinator for the Middle East and North Africa.
The officials reaffirmed their commitment to enhancing economic cooperation under I2U2 and emphasised the significance of direct engagement between decision-makers and private sector stakeholders of the four countries. Ravi reiterated India’s commitment to I2U2 and urged all stakeholders to work towards achieving tangible progress in I2U2 initiatives, including setting up an innovation centre at Gurugram.
In line with India’s LiFE (Lifestyle for Environment) initiative, he urged I2U2 partners to work for a sustainable and environment-friendly lifestyle. During the meeting, India became the latest member of the Agriculture Innovation Mission for Climate launched by the UAE and the US at COP26.
Officials said this will lead to greater cooperation in climate change agriculture and food systems innovation. The I2U2 business forum aims to become a regular platform for private and public entities from the four countries to establish tangible joint business ventures in economic and technological fields.
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