Inaugural I2U2 Business Forum Held in Abu Dhabi to Foster Economic Cooperation
The first-ever I2U2 Business Forum was held on February 22, 2023, in Abu Dhabi, UAE. The forum was organized to facilitate cooperation between the private and public sectors of India, Israel, the United Arab Emirates, and the United States. The event was the first of its kind since the official launch of the I2U2 Group during the I2U2 Leaders’ Summit in July 2022.
The I2U2 partnership comprises India, Israel, the UAE, and the US, and is focused on driving tangible economic cooperation across a range of sectors, including food security, water, energy, space, transportation, health, and technology. The partnership aims to mobilize private sector capital and expertise to help modernize infrastructure, decarbonize industries, improve public health, and promote the development of green technologies.
The I2U2 Business Forum began with opening remarks from senior officials from the four countries. During their speeches, the officials reiterated their commitment to enhancing economic cooperation under the I2U2 framework and emphasized the importance of direct engagement between decision-makers and private sector stakeholders interested in forming future partnerships.
The Secretary (Economic Relations) of India reaffirmed India’s commitment to the I2U2 partnership and urged all stakeholders to work towards achieving tangible progress in all I2U2 initiatives. He also urged I2U2 partners to work towards a sustainable and environment-friendly lifestyle for all.
The forum also witnessed the official signing ceremony that welcomed the Republic of India as the latest country to join the Agriculture Innovation Mission for Climate. This mission was launched by the UAE and the United States at COP26 and includes Israel as a partner among 140 other governmental and non-governmental entities. Officials expressed their belief that such a move represents a stepping stone for greater cooperation in climate-change agriculture and food systems innovation.
The morning session concluded with presentations on two major initiatives currently explored under I2U2. These include a possible USD 2 billion investment in a project to build a series of integrated agricultural facilities across India and the potential development of a 300-megawatt wind and solar hybrid power plant in the Indian state of Gujarat.
The forum also included seven parallel sessions focused on the food security, energy, water, space, transport, health, and technology fields. Companies and private sector representatives exchanged insights and discussed potential partnerships during these sessions.
The I2U2 Business Forum aims to become a regular platform for private and public entities from India, Israel, the UAE, and the US to convene and establish tangible joint business ventures in I2U2’s core economic and technological fields.
The views and opinions expressed in this article are those of the author and do not necessarily reflect the views of The Kootneeti Team