Indian Ocean Rim Association for Regional Cooperation
The Indian Ocean Rim-Association for Regional Cooperation (IOR-ARC), initially known as the Indian Ocean Rim Initiative, is an international organization with 18 member states. It was first established in Mauritius on March 1995 and formally launched on 6–7 March 1997.
The Association disseminates information on trade and investment regimes, with a view to helping the region's business community better understand the impediments to trade and investment within the region. These information exchanges have been intended to serve as a base to expand intra-regional trade.
Seychelles joined in March 1999 but withdrew in July 2003.
Countries with the status of dialogue partners are:
Turkey has applied for dialogue partner status. This application was deferred pending clarification on the criteria for such participation. The Indian Ocean Tourism Organisation has observer status.
The objectives of IOR-ARC are as follows:
To promote sustainable growth and balanced development of the region and Member States
To focus on those areas of economic cooperation which provide maximum opportunities for development, shared interest and mutual benefits
To promote liberalisation, remove impediments and lower barriers towards a freer and enhanced flow of goods, services, investment, and technology......