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The formation of the Indian Ocean Business Alliance (IOBA) was announced today at the Indian Ocean Rim Association Conference being held in Perth (Australia’s Indian Ocean capital).

The founding members include eight Australian organisations that represent and acknowledge the significant strategic and economic interests that Australia has in the region. The founding members are:

• AACCI - Australia Arab Chamber of Commerce and Industry
• AAMIG - Australia- Africa Mining Industry Group
• ACCI - Australian Chamber of Commerce and Industry
• AIBC - Australia Indonesia Business Council
• AIDN-WA - Australian Industry and Defence Network (WA)
• CCIWA – Chamber of Commerce and Industry WA
• UWA – University of Western Australia
• WAFIC – Western Australian Fishing Industry Council

The Indian Ocean Rim includes 2.5 billion people in 36 littoral states. Trade between Australia and the region grew more than four-fold between 2000 and 2012 and this is expected to continue as the region develops further.

As a founding member of the IOBA, The University of Western Australia’s Oceans Institute will support developments and explore opportunities in the Blue Economy, strengthening collaborations with its Indian Ocean partners.

The UWA Oceans Institute’s Deputy Director, Professor Shaun Collin, said the interdisciplinary partnership provided a unique opportunity to further our understanding of the region and address pressing challenges.

“The IOBA is an important platform to facilitate Australia’s shared interests in the region.” Professor Collin said. “As a member of the IOBA, the UWA Oceans Institute will seek opportunities for integrated research and development in the Indian Ocean in emerging areas such as aquaculture, ocean energy and food security.”

The Indian Ocean region includes several key zones, namely Africa, the Middle East and Asia, which hold strong interests in industries such as agribusiness, mining, oil and gas, fisheries, aquaculture, infrastructure, education, tourism and defence.

The formation of the IOBA recognises the wide scope of business in the region and the need for focus, attention and a common voice from industry. The IOBA aims to achieve a collaborative means to bring industry together to create and identify opportunities through open dialogue and exchange.

The founding members of the IOBA, being Australian organisations, reflect Australia’s support of the zone and highlights that Australia is open for business in the region. The IOBA looks forward to working with the Indian Ocean Rim Association to facilitate its interests in promoting intra-Indian Ocean commerce for peace and security, shared economic interests, development in the region and business-to-business links.

Membership to the IOBA is open to all not-for-profit organisations that have an interest in promoting business in the region.

Key regional facts:

• 2.5 billion people in 36 littoral states
• 220 Australian mining companies are undertaking more than 1100 projects in Africa
• $15 billion in total merchandise Australian trade with the Middle East
• 55% of the world's oil reserves and 40% of the world's gas reserves
• One-third of world tuna production

Indian Ocean Business Alliance (IOBA)

The Indian Ocean region is diverse culturally and economically and, as such, many organisations have a growing stake in expanding business opportunities in the region.The IOBA is a grouping of not-for-profit organisations that work together to foster growth through business collaboration around opportunity in the Indian Ocean region, while also providing a unified voice on the region’s business issues.

www.ioba.org.au

Media references

Tracy Parker , The UWA Oceans Institute (+61 8 6488 8014)

UWA Media Office (+61 8 6488 7977)