With reference to ‘Indian Ocean Rim Association for Regional Cooperation (IOR-ARC)’, Consider the following statements: 1. It was established very recently in response to incidents of piracy and accidents of oil spills 2. It is an alliance meant for maritime security only Which of the following statements given above is/are correct?
Explanation
Statement 1 is incorrect. IOR-ARC is a regional cooperation initiative of the Indian Ocean Rim countries. It was established in Mauritius in March 1997 with the aim of promoting economic and technical cooperation. IOR-ARC is the only pan-Indian ocean grouping. It brings together countries from three continents having different sizes, economic strengths, and a wide diversity of languages, cultures. Statement 2 is incorrect. It aims to create a platform for trade, socio-economic and cultural cooperation in the Indian Ocean rim area. The Indian Ocean Rim is rich in strategic and precious minerals, metals and other natural resources, marine resources and energy, all of which can be sourced from Exclusive Economic Zones (EEZ), continental shelves and the deep seabed.