The IORA Experts’ Meeting to Enhance Intra-Regional Trade and Investment, 30-31 January 2020, was hosted by the Government of Mauritius. Fifty-four delegates from 19 of IORA’s 22 Member States: Australia, Bangladesh, Comoros, France, India, Indonesia, Iran, Kenya, Madagascar, Malaysia, Maldives, Mauritius, Seychelles, Singapore, Somalia, South Africa, Sri Lanka, Thailand, the United Arab Emirates and Yemen attended, as well as Dialogue Partner Germany; and six chambers of commerce and industry from around the Indian Ocean region.
The meeting was opened by the Honourable Nandcoomar Bodha, Minister of Foreign Affairs, Regional Integration and International Trade of Mauritius. “Great investment opportunities exist in several economic sectors in the region, including infrastructure development, recycling, pharmaceuticals, fisheries, and aquaculture and ocean energy”, said Minister Bodha.
“There is vast potential in closer economic cooperation in the Indian Ocean Rim region, which has always been one of IORA’s central objectives”, said IORA Secretary-General Dr Nomvuyo Nokwe. Professor Peter Draper of the University of Adelaide presented on a forthcoming study on trade integration dynamics in the region, supported by the Australian Department of Foreign Affairs and Trade.
The meeting reviewed progress of implementation of IORA’s Working Group on Trade and Investment Work Plan. Discussions identified projects to promote implementation of the WTO’s Trade Facilitation Agreement; reduce Non-Tariff Barriers; promote Small and Medium Enterprises (SMEs); support value chains; and profile IORA at Expo 2020 in the United Arab Emirates.
