In news– Recently, India, Israel, US and UAE agreed to establish a joint economic forum.
About New Quad-
- India-USA-Israel-UAE in the first ever meeting of their foreign ministers have explored possibilities for joint infrastructure projects.
- The ministers of these four countries have decided to establish an international forum for economic cooperation to take forward their maiden dialogue.
- This includes the fields of transportation, technology, maritime security, economics and trade, as well as for additional joint projects.
- The new “Quad” meeting comes on the back of the momentum created by the Abraham Accords.
- India, Israel and the UAE have already established trilateral cooperation—in trade and investment—since the Abraham Accords.
- The Abraham Accords are a joint statement made between Israel, the United States and the United Arab Emirates on August 13, 2020.
- It also refers to the agreement reached between Israel, Bahrain and the UAE to normalise relations between the three.
- The accords are named after the patriarch Abraham who is regarded as a prophet in both Judaism and Islam.
- The Abraham Accords also open the door for Muslims around the world to visit the historic sites in Israel and to peacefully pray at Al-Aqsa Mosque in Jerusalem, the third holiest site in Islam.
- The agreement shows how the Arab countries are gradually decoupling themselves from the Palestine question.
- With this, Israel agreed to suspend plans for annexing parts of the West Bank.