India seeks restructuring of IOA-ARC
India sought structural reforms in the working of the IOR-ARC, including amending its charter to ensure that the body could "actively" move forward.
"IOR-ARC has been in existence for over a decade. However, in terms of concrete projects there has not been much progress. In view of this, it is time that the character of the organisation could be given a re-look for bringing out structure reform in order to move the IOR-ARC actively forward," Minister of State for External Affairs, E Ahamed said here.
Addressing the 8th meeting of the Council of Ministers of the IOA-ARC, Ahamed proposed that the Ministers could mandate the setting up of a sub-committee to go into the aspects of carrying out reform for improvement of the association including ameding the charter if necessary.
"In the past one year, I find a candid review and appreciation of the ground realities of one decade of IOR-ARC'S existence has been made. It needs to be provided greater substance. There needs to be concrete shape and direction given to the grouping," he said.
"I feel our concerted efforts to make the grouping active would be successful when we come up with tangible proposals based on our complimentarities and common goals," he said.
He said that only those projects which can be sustained and would add value and are unique to the grouping, should be taken up and moved actively forward.
"To achive this goal, it is important that sectoral working groups, with countries oping to lead in specific sectors, should be established....," he said, adding that studies and proposals which are more than 10 years old and have not translated into 'viable' projects should be scrapped with the consent of the member country.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.