Tag: I2U2 SUMMIT

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High-level meetings to accelerate I2U2 engagements

Six areas of cooperation have been identified by the countries mutually, and the aim is to encourage joint investments in water, energy, transportation, space, health, and food security….reports Asian Lite News

A high-level meeting was held in Abu Dhabi to accelerate bilateral economic cooperation and engagements under the India, Israel, US and UAE grouping (I2U2).

“High-level meetings to accelerate bilateral economic cooperation and engagements under #I2U2. #I2U2 Sherpa Shri Dammu Ravi, Secretary ER@MEAIndia called on HH Sheikh Hamed bin Zayed Al Nahyan, MD ADIA & met HE Ahmed Ali Al Sayegh, Min of State @MoFAICUAE,” tweeted India in UAE. I2U2 Sherpas participated in the meeting. I2U2’s aim is to discuss common areas of mutual interest, to strengthen the economic partnership in trade and investment in our respective regions and beyond.

Six areas of cooperation have been identified by the countries mutually, and the aim is to encourage joint investments in water, energy, transportation, space, health, and food security.

With the help of private sector capital and expertise, the countries will look to modernise infrastructure, explore low-carbon development avenues for industries, improve public health, and promote the development of critical emerging and green technologies.

Earlier, India joined a global platform launched by the US and the UAE with an aim to accelerate investment and support for climate-smart agriculture and food systems innovation, said the US State Department statement.

The Agriculture Innovation Mission for Climate was launched by the two nations in November 2021.

Joint Secretary of the Ministry of External Affairs Dammu Ravi signed a letter expressing the Indian intention to join the AIM4C on the margins of the I2U2 – Israel, India, the United States and the United Arab Emirates – Business Forum in Abu Dhabi. The inaugural I2U2 Business Forum was held on Wednesday.

“AIM4C seeks to increase investment in and support for climate-smart agriculture and food systems innovation. To date, the AIM4C initiative has successfully increased these investments to more than USD 8 billion globally,” the state department said in a statement.

“With today’s announcement, India joins the more than 275 partners, including 42 governments, who are working to collectively advance AIM4C’s mission by supporting investment,” the statement said.

The Agriculture Innovation Mission for Climate (AIM for Climate/AIM4C) is a joint initiative by the United States and the United Arab Emirates.

AIM for Climate seeks to address climate change and global hunger by uniting participants to significantly increase investment in, and other support for, climate-smart agriculture and food systems innovation over five years (2021 – 2025). (ANI)

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Strong US push for progress in I2U2 partnership

Fernandez said that the US is working closely with other I2U2 counterparts to explore additional projects to tackle food insecurity and advance space cooperation…reports Asian Lite News

The United States on Wednesday reaffirmed its commitment to India-Israel-UAE-US (I2U2) and put forward its strong pitch for making significant progress in member countries, according to the press statement released by the US Department of State.

Under Secretary for Economic Growth, Energy, and the Environment Jose W. Fernandez, who was in Abu Dhabi to attend the I2U2 Sherpas meeting, also attended the I2U2 Business Forum and said that the US is committed to the shared goals of prosperity, peace, and innovation and we are focused on advancing mutually beneficial economic priorities. “Our countries are committed to the shared goals of prosperity, peace, and innovation and we are focused on advancing mutually beneficial economic priorities, a partnership based on cooperation, not competition. This initiative spans regions and sets a precedent for what is possible,” Fernandez said at the inaugural I2U2 Business Forum.

“I2U2 provides a new regional platform to deepen economic integration, and an affirmative agenda within the Middle East, Asia, and beyond. It serves as a model for promoting trusted regional partnerships that can create collaborative commercial opportunities and good-paying jobs,” he added.

During his speech, Fernandez recalled the virtual call between US Secretary of State, Antony Blinken with his counterparts from India, UAE and Israel and said that in October 2021, this group was formed and was officially launched by President Biden at the inaugural I2U2 Leaders’ Meeting last summer, the statement added.

He also stated that I2U2 reinforces the Biden-Harris Administration’s goal to build on the Abraham Accords and other normalization agreements and advance Israel’s economic integration into the broader region.

“It further sets a standard for working together to deliver solutions to the region’s most pressing challenges. The two initial projects promote food security and clean energy in India, and they are innovative, ambitious, achievable, and commercially viable,” Fernandez said.

“My three counterparts and I are committed to moving I2U2 forward. While our initial focus is on initiatives in the four I2U2 countries, we are confident that this model could yield benefits and new opportunities in other parts of the Middle East, North Africa, and beyond, and may consider broadening the scope to other sectors, including technology and semiconductors,” he added.

In his inaugural speech, Fernandez also said that the US is working closely with other I2U2 counterparts to explore additional projects to tackle food insecurity and advance space cooperation – areas that will require all of the member countries to share expertise, adapt to climate challenges, and invest in innovative technology, according to the statement.

He further stated that all must do their part and act urgently to respond to the crisis of climate change, and ultimately build a stronger, more sustainable food system for the future.

“We will be working to identify how climate change will impact our agricultural systems and build resilient food systems adapted to frequent and extreme climate impacts. We must ensure that the basic prerequisites for improved agricultural production are in place: good soils and crop varieties adapted to climate change,” US Senator said.

“We aim to discuss these and other opportunities today. Our strategy is sustained commitment and coordination – we are already on that path,” he added. (ANI)

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First I2U2 projects to boost agriculture, green energy in India

Biden claimed that the project that will utilise US and Israeli expertise “has the potential to sustainably increase India’s food yield in the region threefold in just five years”….reports Arul Louis

The first projects of the I2U2 will be located in India and help with agriculture, food and green energy, according to the joint statement of the four leaders after the group’s launch.

Indian Prime Minister Narendra Modi along with his Israeli counterpart Yair Lapid and UAE President Sheikh Mohammed bin Zayed Al Nahyan along with the US President Joe Biden launched the Middle East Quad known as “I2U2” from the initials of the participants.

The UAE will invest $2 billion in the agriculture and food project that aims to “maximise crop yields and, in turn, help tackle food insecurity in South Asia and the Middle East,” the statement said on Thursday.

Biden claimed that the project that will utilise US and Israeli expertise “has the potential to sustainably increase India’s food yield in the region threefold in just five years”.

Gujarat will be the beneficiary of the 300 megawatt wind and solar energy programme and projects like that “have the potential to make India a global hub for alternate supply chains in the renewable energy sector,” the statement added.

Speaking through a videolink from India, Modi said, “The I2U2 has established a positive agenda from its very first summit on Thursday.”

“We have identified joint projects in several areas and have also made a roadmap to take them forward,” he added.

The I2U2 will work in six areas — water, energy, transport, space, health and food security — combining the expertise and the resources of the four nations, Modi said.

With political and strategic divergences among the four countries, the emphasis was on economic and technical cooperation.

Unlike in the Indo-Pacific region, where the other Quad of India — the US, Japan and Australia — face direct aggressive conduct by China, in the Middle East the challenge for I2U2 is from China’s Belt and Road initiative to extend its power more subtly through predatory lending and trade practices.

The US President, who was present in person with Lapid in Jerusalem for the launch, said, “The first two projects that we’re tackling together on food security and clean energy are designed to take on two of the most urgent crises affecting people around the globe: food insecurity.”

“Our nations represent some of the most innovative, technologically capable, and entrepreneurial people on the planet,” he added.

The mobilisation of the strength of the I2U2 nations can be seen in the two projects in India.

UAE will invest $2 billion in the agriculture and food project, and the US and Israeli private sectors will lend their expertise while India will provide the land facilitating farmers’ integration into food parks, the joint statement said.

The project will “develop a series of integrated food parks across India that will incorporate state-of-the-art climate-smart technologies to reduce food waste and spoilage, conserve fresh water and employ renewable energy sources,” it added.

For the $330 million Gujarat wind solar electricity project that is to be complemented by a battery energy storage system, UAE-based companies are exploring opportunities to serve as “critical knowledge and investment partners,” the statement said.

The US Trade and Development Agency has funded a feasibility study for it and the US and Israel are to work with the UAE and India to highlight private sector opportunities, it added.

“Indian companies are keen to participate in this project and contribute to India’s goal of achieving 500 GW of non-fossil fuel capacity by 2030,” it said.

UAE President said that he wanted to “emphasise the importance of giving priority during the coming time to research and development, healthcare and space”.

Among the future projects mentioned is providing vaccines — something that has been a focus area for the other Quad in the Indo-Pacific.

While putting the spotlight on food and energy security, the joint statement laid out an ambitious agenda ranging from infrastructure for better physical connectivity in the region to financing start-ups, with waste treatment in between.

The I2U2 statement detailed them: “We intend to mobilise private sector capital and expertise to modernise infrastructure, advance low carbon development pathways for our industries, improve public health and access to vaccines, advance physical connectivity between countries in the Middle East region, jointly create new solutions for waste treatment, explore joint financing opportunities, connect our startups to I2U2 investments, and promote the development of critical emerging and green technologies, all while ensuring near- and long-term food and energy security.”

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I2U2 vision progressive and practical: Modi at first leaders’ summit

In his remarks at the meeting, Modi said that “under the I2U2 framework, we’ve agreed on increasing the joint investment in 6 important areas of water, energy, transport, space, health & food security.”…reports Asian Lite News

While addressing the first I2U2 leaders’ summit virtually, Prime Minister Narendra Modi said that the framework has set a positive agenda and is a good model for practical cooperation in the face of increasing global uncertainties.

Modi highlighted that the West Asia Quad grouping will “make a significant contribution toward energy security, food security and economic growth globally.”

“From this very first summit, I2U2 has established a positive agenda. We have identified joint projects in various sectors and prepared a roadmap to go ahead,” Modi said.

“Our cooperative framework is also a good model for practical cooperation in the face of increasing global uncertainties,” he added.

In his remarks at the meeting, Modi said that “under the I2U2 framework, we’ve agreed on increasing the joint investment in 6 important areas of water, energy, transport, space, health & food security.”

Modi termed the vision and agenda of I2U2 as “progressive and practical.”

The virtual summit of India, Israel, UAE, and the USA dubbed “I2U2” is being projected as the Quad for West Asia. I2U2 is aimed to encourage joint investments in six mutually identified areas such as water, energy, transportation, space, health, and food security.

The I2U2 grouping was conceptualised during the meeting of the Foreign Ministers of the four countries held on October 18 last year. “Each country also has Sherpa-level interactions regularly to discuss the possible areas of cooperation,” the MEA said.

It intends to mobilise private sector capital and expertise to help modernise the infrastructure, and 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 respective regions and beyond. (ANI)

I2U2 to propel growth, says Lapid

Israeli Prime Minister Yair Lapid said that the “I2U2” nations have a common vision wherein the four nations want to bring together resources to propel infrastructure development, quality education and environmental conservation.

Speaking at the First Leaders Meeting of the “I2U2” group, Prime Minister Lapid said, “The real solutions will only come through countries that know how to bring together resources. We want to change the world for the better.”

“Our goal is to have the private market as a partner. Despite being four different countries, it is clear that all of us want the same thing including infrastructure development, quality education for children and reducing the damage inflicted on the environment,” he added.

ALSO READ: I2U2 Summit: UAE to invest $2 bn for food parks across India

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I2U2 Summit: UAE to invest $2 bn for food parks across India

I2U2 aimed to encourage joint investments in six mutually identified areas such as water, energy, transportation, space, health, and food security…reports Asian Lite News

The United Arab Emirates will invest USD 2 billion in India to develop a series of integrated agriculture parks across the country, the heads of the four countries said at the inaugural I2U2 Group meeting on Thursday.

In a joint statement, the heads of the four countries including — Israel Prime Minister Yair Lapid, Prime Minister Narendra Modi, US President Joe Biden and UAE President Mohammed bin Zayed Al Nahyan stated that the US and Israeli private sectors will be invited to lend their expertise in India and offer innovative solutions that contribute to the overall sustainability of the project.

“The UAE – home to the International Renewable Energy Agency (IRENA) and host of COP28 in 2023 – will invest USD 2 billion USD to develop a series of integrated food parks across India that will incorporate state-of-the-art climate-smart technologies to reduce food waste and spoilage, conserve fresh water, and employ renewable energy sources,” the joint statement read.

“India will provide appropriate land for the project and will facilitate farmers’ integration into the food parks. U.S. and Israeli private sectors will be invited to lend their expertise and offer innovative solutions that contribute to the overall sustainability of the project. These investments will help maximize crop yields and, in turn, help tackle food insecurity in South Asia and the Middle East,” it added.

The virtual summit of India, Israel, UAE, and the USA dubbed “I2U2” is projected as the Quad for West Asia. I2U2 aimed to encourage joint investments in six mutually identified areas such as water, energy, transportation, space, health, and food security.

“This unique grouping of countries aims to harness the vibrancy of our societies and entrepreneurial spirit to tackle some of the greatest challenges confronting our world, with a particular focus on joint investments and new initiatives in water, energy, transportation, space, health, and food security,” the joint statement read.

“We reaffirm our support for the Abraham Accords and other peace and normalization arrangements with Israel. We welcome the economic opportunities that flow from these historic developments, including for the advancement of economic cooperation in the Middle East and South Asia, and in particular for the promotion of sustainable investment amongst the I2U2 partners,” it added.

The I2U2 Grouping was conceptualized during the meeting of the Foreign Ministers of the four countries held on October 18 last year. “Each country also has Sherpa-level interactions regularly to discuss the possible areas of cooperation,” the MEA said.

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. (ANI)

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