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Synopsis Regional cooperation has found a new shape in the 21 century. In the present race for globalisation, liberalisation, economic development, regional cooperation is unavoidable. The political and military regionalism of 19 and 20 century has been replaced by economic regionalism and cooperation. Regionalism has passed through a number of phases. The Indian ocean traversed a bewildering journey from one of neglect to that of repositor of hope in future. From a "neglected ocean", through a "British lake" to an "Ocean of the 21 century" is, indeed, a journey suggestive of changing importance and ever growing prominence of the Indian ocean. In cognisance of this growing importance Alfred Mahan said, "Who ever control the Indian ocean, dominates Asia. That this ocean is the key to the seven seas. In the 21 century the destiny of the world will be decided on it's waters. The growing importance of the Indian ocean with a drastic shift of maritime and strategic focus towards it and the challenges and opportunities that are being unleashed by the process of globalisation and regional that this book assumes significance. IOR-ARC is a unique organisation, as its member countries are members of various organisations like Arab League, OAU, OIC, SADC, OPEC, SAARC, APEC, ASEAN, ARF, and BIMSTEC etc. IOR-ARC also provides a common forum for these member countries. Besides it has various sub-formations like IORAG, IORBF, IORBC, IORF, IOTO. This book not only underlines the economic and strategic importance of Indian Ocean, but also discusses various problems and prospects of IOR-ARC and it is hoped that this book will be helpful to various administrators and organisations working in Indian Ocean Rim.