Importance And Importance Of Indian Ocean Trade

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IMPORTANCE OF SEABORNE TRADE TRANSITING THROUGH INDIAN OCEAN AND STEPS REQUIRED TO ENSURE SAFETY AND SECURITY OF COMMERCIAL SHIPPING

INTRODUCTION

The stunning diaspora of countries in the Indian Ocean territory renders it almost futile to speak of ‘Indian Ocean nations’ in a collective sense. Any attempt to group them into a single umbrella would not do justice to the stunning diversity and disparity of the countries and inhabitants in the region, not to mention of the complexity and challenges of the issues they face. However, several developments have taken place and factors have emerged that demand a fresh outlook at the Indian Ocean vicinity as a united economic area of immense economic potential and influence. This paper will use the
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It is a primary sea-lane linking East and West, or more specifically connecting Africa, the Middle East, East Asia and Australasia with Europe and the Americas. This crucial sea line of communication (SLOC) hosts heavy international maritime traffic that includes approximately half of the world’s containerized cargo and one third of its bulk cargo. The Indian Ocean region has emerged as one of the busiest waterways in the world, by virtue of the huge commercial exchange of commodities, capital, manufactures and services that it facilitates. By virtue of its location in the middle of the world’s major maritime trade routes, the IO has emerged as a waterway of immense importance in facilitating global trade. It provides the shortest and most economical oceanic route between the Atlantic and Pacific Oceans. The Indian ocean enjoys a central position in the following international trade ‘systems’, much of which are facilitated by maritime…show more content…
This makes it an energy sea-lane of tremendous global importance.

The IO features four critical waterways for international maritime trade - the Suez Canal in Egypt, Bab-el-Mandeb (bordering Djibouti and Yemen), Straits of Hormuz, and Straits of Malacca. These narrow channels, sometime described in more dramatic terms as ‘chokepoints’, are vital to energy shipment as much of the world’s crude oil shipment passes through them.18 The strategic Persian Gulf is a passageway of tremendous importance to many nations, especially those dependent on imported hydrocarbon energy. Their economic and strategic interests require safe energy transport routes in and out of West Asia. Hence, these sea-lanes act as the main arteries for global energy supply and maritime trade, the majority of which are transported by
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