• Reinforcing Indian Ocean Identity’ was the banner theme at the Indian Ocean Rim Association’s (IORA) Council of Ministers (COM) held in Colombo on October 11, that was attended by foreign ministers and senior officials of the 23-nation grouping of countries.
  • A third of the world’s population (2.6 billion people) live in the region, and 80% of global oil trade, 50% of the world’s containerised cargo and 33% of its bulk cargo passes through it. The region produces a combined total of $1 trillion in goods and services and intra-IORA trade is billed at around $800 billion. India’s other regional organisations, like SAARC (South Asian Association for Regional Cooperation) and BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation), face their own challenges.
  • According to its charter, the IORA’s seven priority areas are maritime safety and security; trade and investment facilitation; fisheries management; disaster risk management; academic, science and technology; tourism and cultural exchanges; and gender empowerment.