Ministers for commerce and industries from member countries of the 20-nations Indian Ocean Rim Association for Regional Cooperation (IOR-ARC) will meet at the forum’s headquarters in Mauritius next month to explore ways of strengthening business ties.
The two-day mega gathering starting on July 4 will also bring together policymakers, businesspersons, entrepreneurs and leaders of industries to explore possibilities of expanding cooperation in key economic and business sectors.
The current Chair India and Mauritius will co-host the conference, IOR-ARC says.
Australia, Bangladesh, Comoros, India, Indonesia, Iran, Kenya, Madagascar, Malaysia, Mauritius, Mozambique, Oman, Seychelles, Singapore, South Africa, Sri Lanka, Tanzania, Thailand, United Arab Emirates and Yemen are the members of the association while China, Egypt, France, Japan, UK and USA are dialouge partners.
According to the IRO-ARC, trade and investment have always been a matter of high priority for the Association.
It says the meeting will provide ‘an opportunity’ for private sector interaction also.
On the first day, participants will discuss the harnessing of the growth of the region’s industrial sector by creating agri-business linkages, addressing food security and sustainable development, ocean economy or blue economy, unlocking the potential of the services sector including ICT, Tourism, and financial services, and enhancing investment in the region.
The second day will mostly focus on business-to-business interactions and match-making between the business delegates and entrepreneurs of the member states.
The importance of the Indian Ocean, the world’s third largest trade corridor and energy highway, is undeniable as it provides passage to half of the international container ships and more than 70 percent of crude and oil shipments.
Next year, one of its member states, Seychelles, will host a travel and tourism mart to give the industry a boost.
Source: bdnews24
