Express News Service
NEW DELHI: India, Israel and UAE trilateral is likely to get a boost with the upcoming visit of Israel’s Prime Minister, Naftali Bennett, to India on April 3rd.
Israel’s former ambassador to India, Dr Ron Malka, who was instrumental in bringing together this trilateral, is expected to be a part of the Israeli delegation that will come to India with PM Bennett. Malka is now Israel’s Director General Ministry of Economy and Industry.
The trilateral, signed in May last year, took off with an Israeli company (Ecoppia) providing the technology for producing a water-free robotic solar cleaning technology in India, for a project in UAE. Ecoppia’s (has over 2,700 mw of global projects in its portfolio) innovative water-free robots that would help arid regions to achieve optimal productivity and save water.
The trilateral was signed in the UAE with the support of International Federation of Indo-Israel Chambers of Commerce (IFIICC).
“This confluence of Israeli cutting edge technology, manufactured in India and imported from India to UAE for the benefit of its citizens has potential,’’Malka had said during the signing of the trilateral.
The trilateral trade between Israel, UAE and India can boost trade between the three nations to $110 billion by 2030. India with its strengths, UAE with investments and Israel with its technical know-how can bring onboard immense opportunities for innovation and technology.
“This particular tripartite relationship shows tremendous potential, not only for the three nations involved, but also for multilateral cooperation with other countries in the areas of technology, innovation, healthcare, food security and solar energy,’’ according to the MEA.
Meanwhile, the UAE-India Comprehensive Economic Partnership Agreement (CEPA) and growing trade between Israel and both these counties had been a good base for growing economic partnership in this trilateral.
During a virtual summit February 18, the UAE and India sealed a Comprehensive Economic Partnership Agreement (CEPA) with the objective of increasing annual bilateral trade and services from the current level of $60 billion to $115 billion over the next five years.
Interestingly, a new grouping of Israel, the UAE, India, and the United States has gained importance since virtual talks were held between them in October last year. In person talks are scheduled for this year.External Affairs Minister, Dr S Jaishankar and his Israeli counterpart held a virtual meeting with their counterparts in UAE and US when Jaishankar visited Israel in October last year.
The new grouping has announced partnerships in technology and infrastructure projects and are keen to enhance political and economic cooperation and maritime security. The group has been referred to as the `new Quad’. However, unlike the original quad of the US, Australia, Japan, and India, the new bloc is focused on improving regional cooperation, rather than focus on China.
Meanwhile, since the establishment of diplomatic relations between India and Israel in 1992, bilateral trade and economic relations have progressed rapidly.
From $200 million in 1992 (comprising mostly diamonds), merchandise trade diversified and reached $6.35 billion (excluding defence) during April 2021 and January 2022, with balance of trade in India’s favour. P M Bennett’s upcoming visit to India is likely to finalise discussions of free trade agreements between the two nations.
