Recently, the first meeting of the foreign ministers of India, the US, Israel and the United Arab Emirates (UAE) was held virtually.
During the meeting, the four countries decided to launch a new quadrilateral economic forum (Quad).
About the New Quad
The forum is being described as an international platform for economic cooperation. The new quad builds on ongoing cooperation between the U.S., Israel and the UAE (after the Abraham Accords) and India.
Objective
The objective of the new grouping is to establish an international forum for economic cooperation. The grouping will specifically look for the “possibilities for joint infrastructure projects” in transportation and technology.
Priority Areas
Economic and Political Cooperation: The new quad will “expand the economic and political cooperation in the Middle East and Asia, including through trade, combating climate change, technology cooperation including Big Data, energy cooperation, and increasing maritime security.”
COVID-19 Pandemic: It will also focus on global public health and ways to combat the COVID-19 pandemic.
Significance for India
Diverse Areas of Cooperation: Beyond trade, there is potential for India, UAE and Israel to collaborate on many areas — from semiconductor design and fabrication to space technology. For example, Israel is one of India’s top defence suppliers with defence trade between the two countries valued at about $1 billion annually. The UAE, on the other hand, is vital for India’s energy security and hosts millions of Indian workers.
Regional Integrated Approach: India is now ready to move from bilateral relations conducted in separate silos towards an integrated regional foreign policy towards West Asia. The notion of a “Greater Middle East” can provide a significant boost to India’s engagement with the extended neighbourhood to the west.
