India, Israel, U.S. and UAE, decide to launch quadrilateral economic forum | Daily Current Affairs 2021
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India, Israel, U.S. and UAE, decide to launch quadrilateral economic forum

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New Quad Forum

New Quad Forum: The Indian External Affairs Minister S Jaishankar and his counterparts from Israel, the United States, and the UAE have agreed to launch a new quadrilateral economic cooperation forum between the countries.

Highlights:

  • Jaishankar is currently in Israel on a five-day visit.
  • He was accompanied by his Israeli counterpart, Yair Lapid, while other couterparts Antony Blinken, the United States Secretary of State, and Sheikh Abdullah bin Zayed Al Nahyan, the United Arab Emirates Foreign Minister, joined him virtually.

Key Points of the meeting:

  • A statement was issued by the Israeli Foreign Ministry that after the meeting the ministers have decided to establish an international forum for economic cooperation
  • The four Ministers discussed the possibilities for joint infrastructure projects in the fields of transportation, technology, maritime security, economics, and trade.
  • They also discussed combating climate change, energy cooperation, as well as ways to counter the COVID-19 pandemic.
  • It was decided that each country will appoint senior-level professionals to a joint working group that will form options for cooperation in the areas identified by the ministers.
  • The aim is to hold an in-person meeting of the ministers in the coming months at Expo 2020 in Dubai
  • Billed as the “quad”, the meeting seems to be a direct outcome of the Abraham accords of 2020.

Note: India, Israel, and the UAE have already established trilateral cooperation—in trade and investment—since the Abraham Accords.

About Abraham Accords:

  • The Abraham Accords are a joint statement between State of Israel, the United Arab Emirates, and the United States of America, reached on August 13, 2020.
  • Subsequently, the term was used to refer collectively to agreements between Israel and the United Arab Emirates (the Israel–United Arab Emirates normalization agreement) and Bahrain, respectively (the Bahrain–Israel normalization agreement).
  • It is the first Arab-Israeli peace deal in 26 years.
  • The accords led to the normalization of ties between Israel and the United Arab Emirates, with both sides opening direct commercial, telephonic links.

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