Explanation:

Indian Ocean Rim Association for Regional Cooperation (IOR-ARC)  is an international organization consisting of coastal states bordering the Indian Ocean. The organization was first established as Indian Ocean Rim Initiative in Mauritius on March 1995 and formally launched on 6–7 March 1997.
It aims to promote the sustained growth and balanced development of the region and of the Member States, and to create common ground for regional economic co-operation.