section_path: Trade
section_name: Trade
paragraph_text: Trade
  
  The sea lanes in the Indian Ocean are considered among the most strategically important in the world with more than 80 percent of the world's seaborne trade in oil transits through the Indian Ocean and its vital chokepoints, with 40 percent passing through the Strait of Hormuz, 35 percent through the Strait of Malacca and 8 percent through the Bab el-Mandab Strait.
  
  The Indian Ocean provides major sea routes connecting the Middle East, Africa, and East Asia with Europe and the Americas. It carries a particularly heavy traffic of petroleum and petroleum products from the oil fields of the Persian Gulf and Indonesia. Large reserves of hydrocarbons are being tapped in the offshore areas of Saudi Arabia, Iran, India, and Western Australia. An estimated 40% of the world's offshore oil production comes from the Indian Ocean. Beach sands rich in heavy minerals, and offshore placer deposits are actively exploited by bordering countries, particularly India, Pakistan, South Africa, Indonesia, Sri Lanka, and Thailand.
  
  In particular, the maritime part of the Silk Road leads through the Indian Ocean on which a large part of the global container trade is carried out. The Silk Road runs with its connections from the Chinese coast and its large container ports to the south via Hanoi to Jakarta, Singapore and Kuala Lumpur through the Strait of Malacca via the Sri Lankan Colombo opposite the southern tip of India via Malé, the capital of the Maldives, to the East African Mombasa, from there to Djibouti, then through the Red Sea over the Suez Canal into the Mediterranean, there via Haifa, Istanbul and Athens to the Upper Adriatic to the northern Italian junction of Trieste with its international free port and its rail connections to Central and Eastern Europe.
  
  The Silk Road has become internationally important again on the one hand through European integration, the end of the Cold War and free world trade and on the other hand through Chinese initiatives. Chinese companies have made investments in several Indian Ocean ports, including Gwadar, Hambantota, Colombo and Sonadia. This has sparked a debate about the strategic implications of these investments. There are also Chinese investments and related efforts to intensify trade in East Africa and in European ports such as Piraeus and Trieste.