Saturday, January 23, 2021

India, Israel & UAE – The New ‘Trilateral Block’ On Way – Israeli Envoy

With the normalization of ties between Israel and the UAE and India’s historical-bond with Israel, especially in defence & technology and with the UAE, as one of the largest trading partners, the three nations could be on way form a trilateral block in West Asia. 

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Israeli ambassador to India Ron Malka told the ET – A trilateral pact between India, Israel and the UAE is in the realm of possibility. India’s wide-ranging ties with both Israel and the UAE are a factor that can shape this trilateral. This is not a mere speculation but very much in the realm of possibility.”

He suggested that the prospective trilateral pact between three nations bring the best practices of the to create new-age technology and business solutions. “India has its strengths and presents a huge opportunity. The UAE can bring in investments and Israel can bring onboard innovation and technology.”

Meanwhile, Israel and the UAE continue to deepen their ‘new official’ ties. A newly formed online platform to launch a possible association between UAE and Israeli businesses has already pulled over 2,000 members. If the initial inquiries were mostly from Israeli investors, these days the majority are from the UAE reports the GulfNews.

ISRAEL-UAE

“Emiratis are looking to see how they can enter the Israeli market, whether it’s for investment opportunities, procuring goods and services and technology, [or] investment in infrastructure development,” said Dorian Barak, co-founder of UAE-Israel Business Council.

It’s not just Emiratis who want to get into the space and do their bit in opening up a brand new market for them. Even Indian building materials companies, with operations in the Middle East, are looking to expand into Israel by partnering a local firm.

Earlier, Indian external affairs minister S Jaishankar had stated that he normalisation of ties between Israel and the UAE has opened up “lots of opportunities” at a time when relations between New Delhi and Abu Dhabi too are growing.

Jaishankar told Gulf News: “When two strategic friends come closer it opens up lots of opportunities.”

India and the UAE, he said, have a “fast-growing relationship”. He added, “UAE is central to India’s extended neighbourhood. We see UAE on the crossroads of international trade. As Singapore is in the East, UAE is in the West.”

In 2015, Narendra Modi became the first Indian prime minister to visit the UAE in 34 years. Later in 2017, Sheikh Mohammad Bin Zayed Al Nahyan, the Crown Prince of Abu Dhabi, was the chief guest at India’s Republic Day celebrations. During the past six years, PM Modi has visited the UAE three times.

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