Virtual quadrilateral meet: India, Israel, US and UAE agree to establish joint economic forum

The Indian External Affairs Minister S Jaishankar and his counterparts from Israel, the United States, and the UAE have agreed to create a forum for economic cooperation between the countries.

During the quadrilateral meeting, possibilities for joint infrastructure projects in the fields of transportation, technology, maritime security, economics, and trade were discussed.

As part of the virtual meeting on Monday, Jaishankar, currently in Israel on a five-day visit, was accompanied by his Israeli counterpart, Yair Lapid.

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Meanwhile, Antony Blinken, the United States Secretary of State, and Sheikh Abdullah bin Zayed Al Nahyan, the United Arab Emirates Foreign Minister, participated virtually, as the four leaders exchanged views on regional issues of concern.

"The ministers decided to establish an international forum for economic cooperation," said a statement issued by the Israeli Foreign Ministry after the meeting.

According to the statement, each minister will appoint a senior professional to a joint working group that will formulate options for cooperation in the areas identified by them.

The statement added that the ministers intend to hold an in-person meeting in the coming months at Expo 2020 in Dubai.

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"I think the word we're looking for here is synergy because this is what we're going to try and create starting with this meeting. Synergy that will help us work together on infrastructure, digital infrastructure, transport, maritime security and other things that preoccupy us all," said the Israeli Foreign Minister, who initiated the meeting during his visit to Washington, said at the start of the meeting Monday evening.

"The key to success is how quickly can we move from 'government-to-government' to 'business-to-business'," Lapid said. "How quickly can we turn this into a working process that will put boots on the ground, changing infrastructure around the world."

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Jaishankar called the meeting "fruitful," saying they discussed how to work together more closely on global issues and economic growth. "Agreed on expeditious follow-up," he said in a tweet.

"I think it is very clear that on the big issues of our times we all think very similarly and what would be helpful would be if we could agree on some practical things to work upon," he said.

Meanwhile, an article in the Jerusalem Post newspaper noted the economic and defence industry advantages of the new ties and the potential to synergize the network of ties between Washington, Jerusalem, Abu Dhabi, and New Delhi.

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"That means that the whole can be more than the sum of its parts," it said.

Citing the growing power of near-peer rivals such as Russia and China, as well as regional states that oppose US policy, such as Iran and Turkey, the article said "That may be where the US-UAE-Israel-India connection comes together most of all, in presenting a moderate alternative to the aggressive extremist and authoritarian countries."

(With inputs from agencies)