Australia as an Enabler to Sustainable Indian Ocean Island Economies

Abstract

The purpose of this study is to provide a deeper understanding of how Australia and Indian Ocean island economies of Mauritius, Maldives, and Sri Lanka can mutually benefit from each other to promote sustainability and economic output. Specifically, this study investigates what makes the three island economies attractive to promote regional and international trade and how Australia can help achieve a sustainable blue economy. The author initially provides some background of the current state in the island economies and Australia, post-COVID-19 crisis impact, the different financial and regulatory policies, bilateral trade agreements, and ministerial level organisations promoting trade partnerships. Key recommendations aligned with various Sustainable Development Goals (SDGs), especially SDG 14, are provided. Active involvement from experienced nations like Australia to Small Island Developing States (SIDS) is required, including some incentivized alliance between the private and public sector to achieve a sustainable ocean or blue economy, post COVID-19 crisis.