Indian Ocean Rim Association for Regional Cooperation
Encyclopedia
International organization
An intergovernmental organization, sometimes rendered as an international governmental organization and both abbreviated as IGO, is an organization composed primarily of sovereign states , or of other intergovernmental organizations...
with 18 member states. It was first established in Mauritius
Mauritius
Mauritius , officially the Republic of Mauritius is an island nation off the southeast coast of the African continent in the southwest Indian Ocean, about east of Madagascar...
on March 1995 and formally launched on 6–7 March 1997.
The Association disseminates information on trade
Trade
Trade is the transfer of ownership of goods and services from one person or entity to another. Trade is sometimes loosely called commerce or financial transaction or barter. A network that allows trade is called a market. The original form of trade was barter, the direct exchange of goods and...
and investment
Investment
Investment has different meanings in finance and economics. Finance investment is putting money into something with the expectation of gain, that upon thorough analysis, has a high degree of security for the principal amount, as well as security of return, within an expected period of time...
regimes, with a view to helping the region's business community better understand the impediments to trade and investment within the region. These information exchanges have been intended to serve as a base to expand intra-regional trade.
Full members
| Full members | Date of accession |
|---|---|
 Australia |
March 1995 |
 Bangladesh |
March 1999 |
 India |
March 1995 |
 Indonesia |
September 1996 |
 Iran |
March 1999 |
 Kenya |
March 1995 |
 Madagascar |
September 1996 |
 Malaysia |
September 1996 |
 Mauritius |
March 1995 |
 Mozambique |
September 1996 |
 Oman |
March 1995 |
 Singapore |
March 1995 |
 South Africa |
March 1995 |
 Sri Lanka |
September 1996 |
 Tanzania |
September 1996 |
 Thailand |
March 1999 |
 United Arab Emirates |
March 1999 |
 Yemen |
September 1996 |
Seychelles joined in March 1999 but withdrew in July 2003.
Seychelles re-joined November 2011 as the 19th member
Dialogue Partners
Countries with the status of dialogue partners are:Turkey
Turkey
Turkey , known officially as the Republic of Turkey , is a Eurasian country located in Western Asia and in East Thrace in Southeastern Europe...
has applied for dialogue partner status. This application was deferred pending clarification on the criteria for such participation. The Indian Ocean Tourism Organisation has observer status.
Notes
Objectives
The objectives of IOR-ARC are as follows:- To promote sustainable growth and balanced development of the region and Member States
- To focus on those areas of economic cooperation which provide maximum opportunities for development, shared interest and mutual benefits
- To promote liberalisation, remove impediments and lower barriers towards a freer and enhanced flow of goods, services, investment, and technology within the Indian Ocean rim.
Activities
IOR-ARC activities include several on-going topical projects and work programs conducted by member countries with shared interests, all of which are under the umbrella of 3 separate working groupWorking group
A working group is an interdisciplinary collaboration of researchers working on new research activities that would be difficult to develop under traditional funding mechanisms . The lifespan of the WG can last anywhere between a few months and several years...
s. These are the Working Group on Trade and Investment (WGTI), the Indian Ocean Rim Business Forum (IORBF), and the Indian Ocean Rim Academic Group (IORAG). The Association holds a Council of Ministers meeting once every two years. The working groups have business and academic representatives to ensure that different points of view and interests are fully reflected in IOR-ARC’s work program.
Forums and Institutions
- Council of Ministers (COM)
- Committee of Senior Officials (CSO)
- Indian Ocean Rim Business Forum (IORBF)
- Indian Ocean Rim Academic Group (IORAG)
- Working Group on Trade and Investment (WGTI)
- IOR-ARC High Level Task Force
See also
- Asia-Pacific Economic CooperationAsia-Pacific Economic CooperationAsia-Pacific Economic Cooperation is a forum for 21 Pacific Rim countries that seeks to promote free trade and economic cooperation throughout the Asia-Pacific region...
- Organization of the Black Sea Economic CooperationOrganization of the Black Sea Economic CooperationOn 25 June 1992, the Heads of State and Government of eleven countries signed in Istanbul the Summit Declaration and the Bosporus Statement giving birth to the Black Sea Economic Cooperation ...
- Union for the MediterraneanUnion for the MediterraneanThe Union for the Mediterranean is a multilateral partnership that encompasses 43 countries from Europe and the Mediterranean Basin: the 27 member states of the European Union and 16 Mediterranean partner countries from North Africa, the Middle East and the Balkans...