Indian Ocean Rim Business Forum meet to focus on food safety, renewable ocean energy

Indian Ocean Rim Business Forum (IORBF) is going to host a two-day summit on the theme 'Roadmap for Post Pandemic Progress' in Dhaka with especial emphasis on food safety issues on 20-21 November 2022.

"The summit will also focus on renewable ocean energy, sea ports and shipping, offshore hydrocarbons, seabed minerals and marine biotechnology," said Sheikh Fazle Fahim, chairman of IORBF and former president of Federation of Bangladesh Chambers of Commerce and Industry (FBCCI).

The issues in the summit have been selected to promote sustainable energy security, sustainable trade logistics and value chain inputs, he said while talking with The Business Standard at IORBF office in the capital's Banani on Thursday.

"The leadership summit will cover all priority areas and cross-cutting issues of Indian Ocean Rim Association (IORA) and on global inflation and stagflation, supply chain disruption and value chain integration and energy, food and currency security,' he added.

Bangladesh, the current IORA chair, is hosting the 22nd IORA Council of Ministers (COM) meeting on 24 November 2022 in Dhaka. It will be preceded by the 24th meeting of the Committee of Senior Officials (CSO) to be held on 22-23 November.

The 23 member states of IORA and 10 dialogue partners are expected to join the ministerial and senior official level meetings.

"IORBF will provide an opportunity to network with business people and policy makers from around the Indian Ocean Rim to discuss solutions to economic challenges faced regionally. A key outcome of the summit – the IORBF policy declaration – will be presented to the IORA's COM subsequently," said Sheikh Fazle Fahim.

Fahim said, "Promoting trade and investment is at the heart of IORA. The Indian Ocean Rim region has been linked by commerce for centuries and is still at the centre of global trade and investment flows. Today half of the world's container ships and two thirds of the world's oil shipments pass through the Indian Ocean, including key transit points such as Bab el-Mandeb and the Straits of Hormuz and Malacca."

"IORA member nations and dialogue partners cover a population of 4.92 billion, which is 61.5% of the global population," he added.