IORA Members Urged to Capitalize Persian Gulf Potentials

IORA Members Urged to Capitalize Persian Gulf Potentials

Deputy Foreign Minister for Legal and International Affairs Abbas Araqchi called for closer collaboration among members of the Indian Ocean Rim Association to forge banking connections and boost trade and investment.
The Iranian deputy minister made the statement in an address to the IORA Council of Ministers’ meeting on Monday in the Indonesian capital Jakarta, ISNA reported.
Araqchi said the removal of international sanctions on Iran under its July 2015 nuclear deal with world powers has created a fertile situation for capitalizing the potential of the Persian Gulf region to expand trade among members.
“Chabahar Port has high economic potential, as it connects the east to west, and the north to south,” he said.  
Chabahar Port is located alongside the Sea of Oman, near Iran’s border with Pakistan. Iran signed a 10-year agreement for the development and operation of Chabahar with India in May 2016.
The IORA meeting was preceded by a Committee of Senior Officials’ meeting on Sunday, which was attended by a delegation of Iranian experts.
Indonesia, the current chair of the association, will host the first IORA leaders’ summit on Tuesday, on the occasion of the 20th anniversary of its establishment and under the theme of “Strengthening Maritime Cooperation for a Peaceful, Stable and Prosperous Indian Ocean.”  
Foreign Minister Mohammad Javad Zarif departed Tehran for the three-day event on Sunday, to represent President Hassan Rouhani at the Tuesday summit.
It will bring together the leaders of 21 member states and seven dialogue partners as well as special invitees and guests.
The association comprises Australia, Bangladesh, Comoros, India, Indonesia, Iran, Kenya, Madagascar, Malaysia, Mauritius, Mozambique, Oman, Seychelles, Singapore, Somalia, South Africa, Sri Lanka, Tanzania, Thailand, the UAE and Yemen.
Currently, IORA’s dialogue partners are China, Egypt, France, Germany, Japan, the United Kingdom and the United States.


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