Business updates

"The Indian Ocean Rim Business Forum (IORBF) needs to produce a tangible initiative towards enhancing economic and business cooperation in the Indian Ocean region", said the Chairman of the IORBF, Mr. Yugi Prayanto of the Indonesian Chamber of Commerce (KADIN), during the 22nd IORBF, held on 13th of October 2016 in Jakarta.

The IORBF meeting aimed to increase interaction and cooperation between the businesspeople of IORA Member States and dialogue partners in order to develop economic, trade, and investment cooperation in the Indian Ocean region.

During the 22nd IORBF, the creation of the IORA Comprehensive Economic Partnership Agreement (IORA-CEPA) and IORA Business Travel Card (IBTC) have been approved by representatives of Member States present. to further explore the economic cooperation opportunities available in the region.

They have well received the IORA-CEPA proposal which is expected to serve as an umbrella for IORA economic cooperation to drive the enhancement of trade and investment, market access, industrial development and regional value chain as well as strengthening structural reform, in the IORA region. Similarly, the creation of IBTC to improve the mobility of businesspeople and business interaction between IORA member states, has been equally appreciated. 

The 22^nd IORBF was attended by participants of both the public and private sectors of IORA member states. Mauritius was represented by Ms. Faeeza Ibrahimsah, Manager of the Communications and Promotion Division of the MCCI.