 "Vinay Kwatra")
Economic cooperation between India and the UAE, including the India- Middle East-Europe Economic Corridor (IMEC) project and initiatives under the I2U2 grouping, should stay the course despite concerns over the ongoing conflict in Gaza and unrest in the Red Sea, Foreign Secretary Vinay Kwatra said on Wednesday.
Addressing a briefing on Prime Minister Narendra Modi's ongoing visit to the UAE, and Qatar, Kwatra said the crisis in Gaza, and the situation in the Red Sea featured in the discussions between Modi and UAE President and Ruler of Abu Dhabi Mohamed bin Zayed al Nahyan on Tuesday.
"Whether it is I2U2 projects or the IMEC, the signing of which is a clear testimony and evidence that while the ongoing disturbance in the region with regards to conflicts in Gaza and the situation in the Red Sea is indeed a matter of concern, both countries and the leaders continue to monitor, supervise and exchange notes on them. But it is equally important to ensure that economic cooperation continues to stay its course, and maintains its momentum," Kwatra elaborated.
A key player in both the landmark intergovernmental pacts, Israel has seen its budding ties with neighboring Arab countries sour amid an ongoing war with Hamas for more than 4 months. After boosting their diplomatic and economic ties over a few years, the I2U2 nations comprising India, Israel, the US and the UAE held their first virtual leader's summit in July 2022. The joint statement issued after the meeting of Modi, US President Joe Biden, then-Israeli Prime Minister Yair Lapid, and UAE President Mohamed bin Zayed, had outlined a $2 billion plan by the UAE to develop a series of integrated food parks across India.
In September 2023, the nations announced a new joint space venture to use the space-based observation data and capabilities of the four countries and create a space-based tool for policymakers, institutions and entrepreneurs.
However, the attack on Israel by Hamas the next month cast a shadow of doubt over the grouping. In August 2020, the UAE became the third Arab state, besides Egypt and Jordan, to fully recognise Israel and establish diplomatic relations. However, it recently joined several Arab Gulf states in warning Israel against launching an offensive on the city of Rafah in the extreme south of the Gaza Strip, where around 1.4 million people have sought refuge.
Israel is also a key partner of the IMEC initiative, a sea-land connectivity project linking India with the Middle East and Europe in an apparent move to counter China's controversial Belt and Road Initiative.
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The IMEC will provide a reliable and cost-effective cross-border ship-to-rail transit network to supplement existing maritime and road transport routes and enable goods and services to transit to, from, and between India, the UAE, Saudi Arabia, Jordan, Israel, and Europe.
India and the UAE on Tuesday signed an Intergovernmental Framework Agreement on the IMEC which will promote cooperation on logistics platforms and provide for supply chain services, Kwatra said. He said cooperation on logistics platforms is a crucial element for the IMEC, while supply chain services would cover all kinds of general cargo, bulk containers and liquid bulk.
Another agreement signed between railway engineering services major RITES and the Abu Dhabi Ports Authority on Tuesday is also expected to dovetail into the IMEC. It will ensure the 'development of multi-modal logistics parks, economic free trade zones, and rail connectivity projects', Kwatra said.
