INDIAN
OCEAN RIM ASSOCIATION - INTERNATIONAL
News: Sri Lanka to take over as chair of
Indian Ocean Rim Association
What's
in the news?
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Sri Lanka is set to take over Chair of the
Indian Ocean Rim Association (IORA) succeeding Bangladesh.
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It will hold this prestigious position for
the next two years.
Indian
Ocean Rim Association (IORA):
Establishment:
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Founded in 1997, IORA serves as a regional forum aimed at fostering
understanding and mutually beneficial cooperation through a consensus-based, non-intrusive approach.
Objective:
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It is an intergovernmental organization that aims to strengthen regional
cooperation and sustainable development throughout the Indian Ocean rim.
Membership:
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IORA comprises 23 member states, including Australia, Bangladesh, Comoros, India,
Indonesia, Iran, Kenya, Madagascar, Malaysia, Maldives, Mauritius, Mozambique,
Oman, Seychelles, Singapore, Somalia, South Africa, Sri Lanka, Tanzania,
Thailand, UAE, and Yemen.
Secretariat:
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The association’s Secretariat is based in Cyber City, Ebene, Mauritius,
responsible for managing, coordinating, servicing, and monitoring policy
decisions, work programs and projects adopted by member states.
Agenda
for Collaborative Action
The Council of Ministers
will engage in discussions to foster collaboration across six priority areas highlighted by the IORA:
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Trade and Investment
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Maritime Safety and Security
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Fisheries Management
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Disaster Risk Management
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Blue Economy
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Strengthening Regional Ties
Significance
of IORA:
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IORA’s significance is underscored by the
Indian Ocean’s pivotal role in global trade, handling half of the world’s
container ships, one-third of bulk cargo traffic and two-thirds of oil
shipments.
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It forms the lifeline of international
trade and transport, controlling major sea-lanes.