In the given question, a statement of Assertion is followed by a statement of Reason. Mark the correct answer.

Assertion: ASEAN remains a weak and inept institution in the Southeast Asian region because of its slow and ineffective growth and its member nations remain dependent on other bigger economies
Reason: ASEAN consists of some of the fastest-growing economies in the world.

The Assertion is incorrect but the Reason is correct.

With some of the fastest growing economies in the world, ASEAN broadened its objectives beyond the economic and social spheres. In 2003, ASEAN moved along the path of the EU by agreeing to establish an ASEAN Community comprising three pillars, namely, the ASEAN Security Community, the ASEAN Economic Community and the ASEAN Socio-Cultural Community.