Source: The post is based on an article “Abraham Accords have led to greater regional cooperation, expanding opportunities for India” published in The Indian Express on 16th September 2022.
Syllabus: GS 2
Relevance: bilateral relations
News: It has been two years of Abraham Accords. It has helped not only the member nations but has also provided various benefits to India as well.
The article discusses those benefits and highlights the importance of Abraham Accords.
What is Abraham Accord and what are its benefits?
It is collaboration among Israel, the United Arab Emirates and Bahrain brokered by the US.
It aims towards normalisation of ties by bringing Israel closer to the Gulf nations and taking forward the peace initiative.
The benefits of this agreement continue to grow, which can be seen by the deepening people-to-people ties and business opportunities.
New joint ventures are also being undertaken in critical sectors such as clean energy, health, innovation, etc.
It has also worked towards academic collaborations between universities, promoting cultural exchange in the arts field and raising awareness about the shared histories and heritage.
How Abraham Accords has helped India?
Regional connectivity: Abraham Accords has improved the regional connectivity between the member countries. This regional connectivity has also helped Indians.
- For example, the Indian diaspora in the Gulf can now fly directly from the UAE to Israel or from Israel to Bahrain.
Economic opportunities: The Accords have provided for greater regional and multinational cooperation between companies from the UAE, Israel, Bahrain and the United States with the Indian private sector.
Group formation: The Accords has helped in the formation of the I2U2 Group. This group is established by Israel, India, the UAE, and the United States.
What is I2U2 and its benefits?
I2U2 focuses on joint investments in water, energy, transportation, space, health, and food security between the member countries.
The member countries will try to mobilize private sector capital and expertise to help modernise infrastructure, decarbonise industries, etc. in India.
I2U2 combines the strengths and resources of each member country to find innovative solutions to rising global challenges.
It will also serve as a model for multilateral cooperation with other like-minded countries.
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