Australia plans to spend AU$1.5 million in the next three years to support women entrepreneurs in 20 Indian Ocean Rim Association countries to boost their export competitiveness. This was announced by Foreign Affairs Minister Julie Bishop in Perth, while addressing the delegates of the second Indian Ocean Dialogue.

Bishop said the Australian Chamber of Commerce and Industry will also work with sister chambers in various IORA countries for extending further support to women entrepreneurs, AAP reported.

Australia’s merchandise trade with IORA countries in 2014 was AU$86 billion. Noting that the Indian Ocean provides sea routes to major markets in the Middle East, Europe and the Americas, and houses 30 percent of the world's population, the Australian foreign minister underscored the strategic importance of the region.

“Each year, about 100,000 vessels pass through the Indian Ocean region, as do two thirds of the world's oil tankers and one third of its container traffic,” Bishop said.

The Perth conference involving the Indian Ocean Dialogue discussed many important issues, including maritime transnational crime, regional defence co-operation, illegal fishing and disaster response. One of the key outcomes of the meeting was a fresh focus on business. Interestingly, it was the first time there was an IORA Business Week that took a look at the increasing trade and investment flows in the region, reports The Strategist.

Ocean industries

The IORA Economic Declaration also gave a special focus to the ‘blue economy’ involving ocean-industries such as ports, fisheries, aquaculture, renewable energy, mineral exploration, and marine-based tourism. The declaration also made an effort to build on the key message of last IORA declaration in relation to peaceful, productive and sustainable use of the Indian Ocean and its resources.

The report noted that the Perth meeting could yield a greater Australian focus as part of the economic diplomacy. Plans like strengthening an Australian Office of Ocean Affairs in coordination with the Australian Department of Foreign affairs and trade, also known as DFAT, were steps in the right direction.

The Perth meeting also encouraged a higher level of involvement for IORA’s dialogue partners. The high-level representation from the United States and China was seen as a positive step.

Search and rescue

Streamlining Search and Rescue or SAR efforts was a key objective of the Perth meeting. Already five countries such as Singapore, Australia, Seychelles, Comoros and South Africa have a MoU on SAR cooperation under the IORA framework. To support the MoU, Australia has committed AU$2.6 million and will work with Sri Lanka, Mauritius and the Maldives in handling maritime and aviation distress situations.

Australia will formally hand over chairmanship of the IORA to Indonesia in October, during the foreign ministers meeting in Padang.

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