Why in news? Sri Lanka to take over as Chair of Indian Ocean Rim Association

Highlights:

• Sri Lanka’s Foreign Minister Ali Sabry will chair the Council, the highest decision-making body of the IORA, taking over from the Bangladesh, the current Chair for the next two years.
• The Ministers to cooperate on six priority areas identified by the IORA, including Trade and Investment, Maritime Safety and Security, Fisheries Management, Disaster Risk Management and Blue Economy.

About Indian Ocean Rim Association

• Type – Intergovernmental
• Established -1997
• Membership – 23 members + 11 dialogue partners
• Headquarters – Ebene, Mauritius
• History
  • It was first established as Indian Ocean Rim Initiative in Mauritius in 1995
  • Idea of an organization rooted during a visit of former South African Foreign Minister, Pik Botha, to India in 1993
  • Indian Ocean Rim Initiative was formed by South Africa and India.
• Features- Regional forum of tripartite in nature, bringing together representatives of Government, Business and Academia
• Based on the principles of strengthening Economic Cooperation particularly on Trade Facilitation and Investment, Promotion as well as Social Development of the region.