Perth, Oct 30 (IANS): Australia will assume the role of chairman of the Indian Ocean Rim Association for Regional Cooperation (IOR-ARC) for a two-year term, taking over from India this week.

Australia's Foreign Minister Julie Bishop is hosting foreign ministers from around the Indian Ocean region in Perth for the annual IOR-ARC meetings Oct 30-Nov 1, according to a statement issued by the minister

Indonesia will assume the role of vice chairman.

"Perth is Australia's Indian Ocean capital. These meetings are another opportunity to showcase Western Australia as a major supplier of mineral and agricultural resources fuelling growth in the region, a thriving international business centre and attractive travel destination," Bishop said.

Bishop will chair the 2013 IOR-ARC Council of Ministers meeting Nov 1.

"A collaborative approach is the most effective way to combat the ongoing and persistent challenges facing the region including maritime security issues, climate change, sustainability and food security," the minister said.

The IOR-ARC also seeks to foster cooperation in grasping the opportunities presented by the "blue economy" of ocean ecosystems to generate long-term sustainable economic wealth in member countries.

The IOR-ARC activities include fisheries management, disaster risk reduction, tourism and academic, science and technology cooperation.