Ministers from Member and Dialogue Partner Countries of the Indian Ocean Rim Association (IORA) held their first high-level meeting on the region’s renewable energy sector in Abu Dhabi on 21 January 2014, in partnership with the International Renewable Energy Agency (IRENA) as part of Abu Dhabi Sustainability Week. The Indian Ocean Rim, representing approximately 15% of global energy demand, is rapidly emerging as a cost-competitive market for renewable energy. Recognising the many benefits of renewable energy, the ministers encourage its growing prominence in the region’s energy portfolio, particularly leveraging cooperative initiatives among the IORA community. In this regard, the ministers agree to:
RESOURCE ASSESSMENT
COST ANALYSIS AND REDUCTION
CAPACITY BUILDING
TOURISM
The ministers further agreed to develop and implement an action plan in cooperation with the IORA and IRENA Secretariats for these activities. Progress in this regard was reported to the meetings of the IORA Committee of Senior Officials and Council of Ministers in 2014.