"The Jakarta Concord has raised IORA," Jacob Zuma said here, Tuesday.
Zuma asserted South Africa is ready to replace Indonesia as the chair, and host the IORA Summit in South Africa.
The Jakarta Concord titled "Promoting Regional Cooperation for a Peaceful, Stable, and Prosperous Indian Ocean" aims to lay the foundation and set the course for cooperation for the organization of Indian Ocean states in the coming years.
In the Jakarta Concord, the IORA states Reviews their declared commitment to promoting maritime safety in the region; enhancing trade and investment cooperation in the region; promoting the sustainable management and development of fisheries; enhancing disaster risk management in the region; strengthening academic, science, and technology cooperation; fostering tourism and cultural exchanges; Blue Economy; and empowering women in the economy.
Earlier, at IORA Business Summit on Monday (March 6), President Jacob Zuma reminded the participants on the importance of supporting small and medium enterprises (SMEs) because it is the key to boost economic growth and create jobs.
According to him, the development of SMEs in the Indian Ocean region is vital given the current global economy is still in a state of uncertainty.
The President also talked the importance of promoting inclusive economic growth that helps women and the marginalized people.
He said the world today is undergoing the fourth phase of the industrial revolution in the form of digital transformation.
Zuma hoped the IORA partnership cooperation can be beneficial not only for the people in the area but also future generations globally.