India, Israel, USA and UAE agree to form Joint Economic Forum

India’s External Affairs Minister S Jaishankar and his counterparts from Israel, the US and the United Arab Emirates (UAE) have agreed to create a forum for economic cooperation in a meeting. They discussed the possibility of joint infrastructure projects in the areas of transport, technology, maritime security and economy and trade during the meeting.

External Affairs Minister S Jaishankar is currently on a five-day visit to Israel. He was accompanied by Israel’s Foreign Minister Yair Lapid in the meeting held on 18 October 2021 through digital medium. US Secretary of State Antony Blinken and UAE Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan attended the meeting digitally. The four leaders discussed issues of common concern in the region.

After the meeting, a statement from the Ministry of External Affairs said that the ministers decided to create an international forum for economic cooperation. According to the statement, the four ministers discussed possibilities for joint infrastructure projects and additional joint projects in the fields of transport, technology, maritime security and economy and trade.

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External Affairs Minister S Jaishankar described the meeting as fruitful and said they discussed economic growth and working together on global issues. He said that I think it is very clear that we all think alike on the big issues of our time.

India, Israel, the US and the UAE have decided to set up an international forum for economic cooperation on the lines of the Quad (QUAD). The purpose of the new forum is to focus on other areas including infrastructure. On the lines of the Quad, a virtual meeting of the foreign ministers of the four countries on a single platform will be held in the coming months.

The focus will be on infrastructure, digital infrastructure, transportation, maritime security through an international forum between the four countries for economic cooperation and senior officials will also be appointed for the joint group.