Match List I with List II

Choose the correct answer from the options given below:

(A)-(II), (B)-(IV), (C)-(I), (D)-(III)

The correct answer is option (2) - (A)-(II), (B)-(IV), (C)-(I), (D)-(III)

Explanation:

ASEAN was established in 1967 by 5 countries of this region: Indonesia, Malaysia, Phillippines, Singapore, and Thailand, by signing The Bangkok Declaration. The objectives of ASEAN were primarily to accelerate economic growth, and through that social progress and cultural development, the secondary objective was to promote regional peace and stability based on the rule of Law and principles of the United Nations Charter. Over the years, Brunei Darussalam, Vietnam, Lao PDR, Myanmar and Cambodia Joined ASEAN taking its strength to 10.

ASEAN had several agreements in place by which member states promised to uphold Peace, Neutrality, Cooperation, Non-Interference and respect for National differences and Sovereign Rights. ASEAN Regional Forum (ARF) which was established in 1994. ASEAN has focused on creating a Free Trade Area (FTA) for investment, labour, and services.

The ASEAN Regional Forum (ARF), which was established in 1994, is the organization that carries out the coordination of security and foreign policy.

China followed its own path in introducing a market economy. The Chinese did not go for ‘shock therapy’ but opened their economy step by step. The privatisation of industry in 1998 followed the privatisation of agriculture in 1982. Trade barriers were eliminated only in Special Economic Zones (SEZs) where foreign investors could set up enterprises. In China, the state played and continues to play a central role in setting up a market economy.