Golden era of Indian Ocean region begins

The Atlantic Ocean region had enjoyed a golden era for many decades, and it was followed by the glorious era of the Pacific Ocean region for the last three decades. 

Currently, it is believed that it is the turn of the Indian Ocean region to experience a golden era, given its huge economic potential and increased awareness of the nations in the region to move forward and progress.

Such form of optimism was voiced by several leaders, including President Joko Widodo (Jokowi), while hosting the First Summit of the Indian Ocean Rim Association (IORA) in Jakarta, on March 7, 2017. 

The 2017 IORA Summit is being held under the theme "Strengthening Maritime Cooperation for Peaceful, Stable and Prosperous Indian Ocean" and coincides with the 20th anniversary of the association.

"In Indonesia, we believe that the Indian Ocean is currently developing into a key axis in the world," Jokowi stated in his opening remarks.

The Atlantic Ocean has dominated the world events for hundreds of years. Following rapid progress in several East Asian countries, many believed that it has become the era of the Pacific Ocean for the last three decades.

"However, we believe that at present, the Indian Ocean is flexing (its might), with significant progress of its community, and its economy is playing a significant role in East Asia, the Middle East, South Asia, Southeast Asia, and Australia," he stated.

IORA is a regional organization that comprises 21 member countries, all of which line the Indian Ocean. 

Established in Mauritius in March 1997, the association groups South Africa, Australia, Bangladesh, India, Indonesia, Iran, Kenya, Madagascar, Malaysia, Mauritius, Mozambique, Oman, the United Arab Emirates, Seychelles, Singapore, Somalia, Sri Lanka, Tanzania, Thailand, Uni Comoros, and Yemen. 

In addition, IORA has seven dialogue partners: the US, the UK, Japan, Germany, Egypt, France, and the Peoples Republic of China. 

Four members of IORA -- South Africa, Australia, Indonesia, and India -- as well as the listed six dialogue partners are members of the G-20.

The Indian Ocean region is home to 2.7 billion citizens, which is 35 percent of the entire world population. 

IORAs intra-regional trade in 2015 had amounted at US$777 billion, up 30 percent compared to the trade at $233 billion in 1994.

The Indian Ocean constitutes 70 percent of the worlds trade route, including oil and gas distribution. It carries half of the worlds container ships, one-third of the worlds bulk cargo traffic, and two-thirds of the worlds oil shipments.

However, the IORA member countries contribution has only covered 12 percent of the worlds market share, 10 percent of global gross domestic product, and 13 percent of foreign investment destination.

Some 96 percent of the intra-IORA trade is dominated by six countries namely Singapore, Malaysia, India, Indonesia, Australia, and South Africa.

The association is based on the open regional principles aimed to strengthen economic cooperation, especially in facilitating investment, promotion, and development in the area.

The IORA Council of Ministers held in Jakarta on March 5 and 6, ahead of the Summit, produced four documents to encourage the Indian Ocean to becomes a peaceful, stable, and prosperous region.

The four documents are Jakarta Concord, the IORA Action Plan, the IORA Declaration on Prevention and Combating Terrorism and Violent Extremism, as well as the Joint Declaration of IORA Business Community in Building Partnerships for Sustainable and Fair Economic Growth.

Indonesian Foreign Minister Retno LP Marsudi has believed that the strong commitment of the IORA member states will help to realize the Indian Ocean as the ocean of the future.

"I strongly believe that this document, in particular the Jakarta Concord, will reinvigorate IORAs commitment to ensure peace and stability and to realize the Indian Ocean as the ocean of the future," Minister Marsudi said when delivering a report during the Summit opening ceremony. 

Indonesia is now the IORA chairman for the 2015-2017 period, with South Africa as its deputy chairman. 

The Indonesian government has sought to synchronize the program and priorities in IORA with the vision of world maritime axis that Indonesia is seeking to bring to reality .

Meanwhile, Kenyan Cabinet Secretary Amina C. Mohamed has lauded the Indonesian government for chairing IORA since 2015.

She believed that over the last two years, IORA has been in the golden age under the chairmanship of Indonesia. 

"I am grateful for the hospitality of Indonesia in IORA. I think the last two years is the golden era for IORA," she told Minister Marsudi when they met on the sidelines of the IORA Council of Ministers Meeting on March 6..

The Kenyan government considers the Indian Ocean region has great potentials and provides many opportunities for development and growth in the region in the future.(*)  

Source: ANTARA