Aussie minister stresses importance of Indian Ocean RIM meeting

"Australia is as much an Indian Ocean nation as it is a Pacific Ocean nation, so the Indian Ocean region is of vital strategic importance to Australia," Marles said in a statement.

"The 19-member countries of the IOR-ARC are home to about 30 per cent of the world's population, representing 10 per cent of global GDP,' he said.

"The Indian Ocean carries half of the world's container ships, one-third of the bulk cargo traffic and two-thirds of the world's oil shipments. It is a lifeline of international trade and the global economy.

"As Vice-Chair of IOR-ARC, Australia looks forward to working with IOR-ARC Ministers to strengthen the organisation's role in addressing challenges that affect global trade and security in the region," Marles said.

Australia's trade in goods with IOR-ARC countries in 2011-12 was valued at more than A$88 billion and total goods exports to IOR ARC countries were more than A$42 billion in 2011 12, almost 16 per cent of national total goods exports.

The IOR-ARC promotes cooperation in areas such as maritime security and safety, trade facilitation, disaster risk reduction and sustainable fisheries and oceans management.

Members include Bangladesh, India, Indonesia, Iran, Kenya, Madagascar, Malaysia, Mauritius, Mozambique, Oman, Singapore, Seychelles, South Africa, Sri Lanka, Tanzania, Thailand, United Arab Emirates, Yemen and Australia.