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Eritrea highlights importance of Indian Ocean for global trade

Posted by: Semere Asmelash

Date: Sunday, 16 February 2025

Eritrea highlights importance of Indian Ocean for global trade




Asmara, Feb 16 (Prensa Latina) Eritrea today highlighted the importance of the Indian Ocean for global maritime trade and the necessary stability in the Horn of Africa, which impacts the dynamics of that body of water that connects three continents.

This was stated by Eritrean Foreign Minister Osman Saleh, leading the delegation of that African country participating in the Eighth Indian Ocean Conference (IOC) that will take place in Muscat, Oman, from February 15 to 17.

A total of 40 countries, including 28 foreign ministers, are attending the conclave under the theme "Journey to New Horizons of Maritime Partnership," the local Ministry of Information said on its social media account X.

Saleh stated that as global dynamics change in the Indo-Pacific and the Middle East, Eritrea is dedicated to enhancing maritime security and economic development through strengthened and mutually beneficial partnerships with neighboring African and Gulf countries.

In his view, the conference must give the Global South a voice in global maritime governance. He warned that the dominance of a select few in policymaking in the sector must be countered by a renewed push for greater participation.

The latter, he stressed, will ensure that developing nations play a decisive role in shaping global maritime governance.

He stressed that the Indian Ocean, stretching across nearly 70.56 million square kilometres, is one of the most important maritime realms in the world and plays an indispensable role in global trade, geopolitics and environmental sustainability.

“The Indian Ocean is the lifeblood of global trade. It connects three continents (Africa, Asia and Australia) and serves as a conduit for approximately 40 percent of the world’s offshore oil production, 50 percent of the world’s container traffic and more than 70 percent of the world’s seaborne oil trade,” he stressed.

He mentioned that strategic chokepoints such as the Strait of Hormuz, the Strait of Malacca and Bab el-Mandeb are critical to energy security and influence global economic stability.

He said it was imperative to raise these concerns as the security and stability of the Horn of Africa cannot be considered in isolation. Its stability is deeply interconnected with the broader dynamics of the Indian Ocean.

Any instability in the Horn of Africa and the wider region directly affects the security of vital global shipping routes, with significant implications for international trade, energy, economic development and regional security, he concluded.

ode/nmr



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