Wednesday, February 28, 2024

I2U2… Peace and coexistence is the essence of economic growth


Abu Dhabi (Etihad)

Peace and economic growth go hand in hand. Peace is the foundation of relationships that sustain development in response to regional and global changes. This is how experts and diplomats described the summit of leaders of the “I2U2” group to Al-Ittihad. , which includes the United Arab Emirates, Israel, India and the United States and was attended by the head of state, Sheikh Mohammed bin Zayed Al Nahyan, in a virtual summit, pointing out that “may God protect him”. It involves cooperation, is protected by peace, and aims at economic development.
While the “Quartet Summit” embodies the continuous experience of the United Arab Emirates, in light of ongoing changes at the regional and international levels, experts believe that one of the most important factors for the success of political alliances is the strengthening of economic cooperation aimed at spreading peace. Since the establishment of the state to make peace a major goal in international relations, it has been a fundamental focus of all international agreements.
In this case, Jamal Raf, a journalist and writer specializing in political affairs, said: The international trend followed by international powers is to resolve conflicts as much as possible and strive to achieve peace through political and economic alliances. For example, the United States. The United States sought to connect its allies through economic bloc alliances with Mexico and Canada.
Raef emphasized that the UAE’s participation in “I2U2” gives great impetus to the group and enhances its great economic impact.
Samar Adel, Egyptian economist, points out that at the economic level, no country can shy away from the economic alliance, considering the establishment of a new stage by the “I2U2” group. , agriculture and energy levels, and at the same time promotes peace, by consolidating the values ​​of coexistence between cultures, the Abrahamic covenant is primarily aimed at, which was previously a clear basis for relations between Israel and many nations. The region, then the alliance will achieve clear success in the coming period.
The Economist expects that the group’s successes will be reflected not only in the member states but also in many countries, especially the Arab countries, as the group is a link for commodity exports and an important axis in terms of agriculture and energy. , this is a matter of wheat exports from India, for example, apart from energy and gas exports from the United Arab Emirates and Israel.
According to Adel Al-Ittihad, the UAE constitutes an important engine for the advancement of the global economy, as confirmed by the I2U2 summit, which includes the United States and India, making it one of the 10 largest global economies, while the UAE and Israel are centers of innovation and technology.
He pointed out that by attracting talent and investing in education, the UAE has been able to achieve a massive economic renaissance, making it a global hub for innovation and technology.
The four-part summit focused on food, climate-smart agriculture, solar energy, wind energy and energy storage, as well as ways to promote economic cooperation in the Middle East and South Asia, particularly ways to promote sustainable investment between them. The I2U2 partnership emphasizes joint investments between the four countries and the launch of new initiatives in those areas.
The virtual summit of the “I2U2” group, which brought together the leaders of the United Arab Emirates, India and Israel, comes within the framework of the efforts of the four countries to expand cooperation in various fields, which contribute to improving economic prosperity and achieving food security. In the region, this is reflected in promoting peace and stability.
For his part, former Egyptian Assistant Foreign Minister Ambassador Hussein Haridi told Al-Ittihad: The four-way summit is very important to improve food security, especially in light of the four countries’ relations in many fields, especially infrastructure. , energy and agriculture, which in turn reflect peace and stability regionally and globally.
Haridi added: For example, after the Ukrainian crisis, India has become a key country in meeting the shortfall in the global wheat export market.
For his part, former Egyptian Foreign Minister Ambassador Mohammed Al-Orabi told Al-Ittihad that strengthening cooperation between the four countries in the fields of food, energy and climate would reflect positively on the people of the region. Current Global Challenges.
He said the countries of the group have great potential which could lead to agreements in various sectors.
The non-oil foreign trade between the UAE and India in 2021 was 170 billion dirhams, a growth of 66% compared to 2020 and 8% compared to 2019.
The two countries have reached high levels of trade volume, reflecting their historic trade partnership. In the past ten years, the total volume of non-oil foreign trade between the two countries has reached 1.4 trillion dirhams. Figures also indicate that mutual investments between the two sides stood at 60 billion dirhams at the end of 2019.
The UAE tops the list of countries in the region in terms of the level of trade and economic ties with the US.

See also  Oman Sultanate prevents unvaccinated workers from entering their workplace

Integration of relationships
Late last May, the UAE and Israel signed a comprehensive economic partnership agreement aimed at strengthening trade and investment ties and promoting non-oil trade, reaching $10 billion annually over the next five years.
The Comprehensive Economic Partnership Agreement between the UAE and Israel is part of similar agreements signed by the UAE with 8 countries with the aim of contributing to the doubling of the national economy to 3 trillion dirhams by 2030. -Covid-19 pandemic, under the umbrella of fifty schemes aimed at boosting internal and external growth of the state over the next fifty years.

Rolf Colon
Rolf Colon
"Creator. Award-winning problem solver. Music evangelist. Incurable introvert."

Share post:


More like this

The Future of Gambling in the UAE: Economic, Legal, and Social Dimensions

The United Arab Emirates (UAE) is on the brink...

Comparing the Best Trading Platforms in the UAE: Features and Benefits

Trading commodities, currency pairs, ETFs, and other investment vehicles...

Evgenia Timofeenko: What does it mean to be an investor in the hotel business?

Investors are always interested in finding effective objects for...

AFC Champions League 2023/24: Last-16 Fixtures, Latest Odds & Preview

The 2023/24 AFC Champions League group stage has been...