IORA and its formation?
IORA is an inter-governmental organization formed in 1997.
IORA has evolved into the peak regional group spanning the Indian Ocean.
The idea for IORA is taken root during a visit of former South African Foreign Minister, Pik Botha, to India in November 1993.
An Indian Ocean Rim Initiative was formed by South Africa and India.
Mauritius and Australia were subsequently brought in.
IORA and its formation?
In March 1997, the IOR-ARC was formally launched.
7 additional countries as members:
Indonesia, Sri Lanka, Malaysia, Yemen, Tanzania, Madagascar and Mozambique.
The apex body of the IOR-ARC is the Council of (Foreign) Ministers (COM).
It has since grown to include 23 states and 10 dialogue partners.
Membership of IORA is open to all coastal and littoral states of the Indian Ocean.
Why does the Indian Ocean Region matter?
The Indian Ocean Region (IOR) matters for a number of reasons, including:
Geography: The IOR is the third-largest ocean in the world
The IOR is home to a maritime chokepoints, such as the Straits of Hormuz and Malacca, which are essential for global trade.
Economy: The IOR is a major economic hub. It is home to some of the fastest-growing economies in the world, such as India, China, and Indonesia.
Why does the Indian Ocean Region matter?
The IOR is also rich in oil and gas, minerals, and fish.
Security: It is home to a number of major military powers, such as India, China, and the United States. The IOR is also a major route for global trade and energy shipments.
Culture :It is home to a diverse range of cultures and religions.
Here are some specific examples of why the IOR matters:
Trade: Over 80% of the world's seaborne trade in oil transits through the IOR.
Why does the Indian Ocean Region matter?
The IOR is also a major route for trade in other goods, such as manufactured goods, agricultural products, and minerals.
Energy: It is home to over 40% of the world's offshore oil and gas reserves. The IOR is also a major producer of renewable energy, such as solar and wind power.
Fisheries: It is home to over 20% of the world's marine fish catch.
Environment: The IOR is a biodiverse region. It is home to a variety of marine ecosystems, including coral reefs, mangrove forests, and seagrass beds.
What does IORA focus on?
IORA focuses on a number of areas of cooperation, including:
Trade and investment: IORA promotes trade and investment among its member states. The association initiatives to facilitate trade and investment, such as the IORA Trade and Investment Promotion Forum and the IORA Business Network.
Tourism and culture: IORA promotes tourism and cultural exchange among its member states. such as the IORA Tourism Working Group and the IORA Cultural Exchange Programme.
What does IORA focus on?
Maritime safety and security: The association has a number of initiatives to promote maritime safety and security, such as the IORA Maritime Safety and Security Working Group and the IORA Information Sharing Centre.
Fisheries:The association has a number of initiatives to promote sustainable fisheries management, such as the IORA Fisheries Working Group and the IORA Regional Plan of Action for the Management of Fishing Capacity.
What does IORA focus on?
Environment: IORA promotes environmental protection in the Indian Ocean region. initiatives such as the IORA Environment Working Group and the IORA Coral Reef Initiative.
Science and technology: The association has a number of initiatives such as the IORA Science and Technology Working Group and the IORA Centre of Excellence in Science and Technology.
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