Why in News ?

US, Israeli and foreign ministers of the United Arab Emirates and Bahrain for the signing of the historic Abraham Accord, which is the first Arab-Israeli peace deal in 26 years. Abraham Accord Israel-UAE and Bahrain. 

What is Abraham Accord ?

• Israel–United Arab Emirates normalization agreement officially the Abraham Accords Peace Agreement
  • Treaty of Peace, Diplomatic Relations
  • Full Normalization Between the United Arab Emirates and the State of Israel
• The treaty
  • Recognises each state’s sovereignty,
  • Also obliges the two states to exchange ambassadors
  • Conclude bilateral agreements on several topics including visa agreements.

US, Israeli and foreign ministers of the United Arab Emirates and Bahrain

• Israel and two Arab Gulf states, the United Arab Emirates and Bahrain, have formally and publicly established diplomatic relations.
• U.A.E. and Bahrain are the third and fourth Arab countries to open diplomatic relations with Israel.
• Egypt and Jordan were the first two.

Impact of the Accord

• Threat of Iran
  • The on going coalition against Republic of Iran will get a boost and normalisation of relations strengthens this coalition
    • Iran and its various terrorist appendages as threats to their stability and territorial integrity, and even to their existence.
• Palestine Issue and Territorial Dispute
  • Arab world would very much like to be partners with Israel in high-tech development and in the fight against Iran.
  • Gulf states really despise the Palestinians as they consider Iran as a threat to the region.
    • Israelis did promise the U.A.E. that they wouldn’t formally annex any West Bank land, for the time being at least.

India and Abraham Accord

India have already a number of bilateral treaty with these nations :

• India will benefit greatly by expanding its cooperation in many areas including health care, energy, agriculture, technology, water and more.
• Economic opportunities in the region arise they will also expand beyond the immediate region to benefit India.
• Peace deal benefits the Indian diaspora in the region across the GCC.
• Security too is a key area and India will be looking to play an important role in the newly established ties between these countries. 
• Also this will help in countering terrorism, money laundering, cyber security, organised crime, human trafficking and anti-piracy.

Source : The Hindu

Topic

GS II : Effect of policies and politics of developed and developing countries on India’s interests, Indian diaspora

Current Affairs Compilation : 16 September 2020