SASEC - GS questions based on daily current affairs

ANSWER: Both 1 and 2

Explanation:

• The SASEC OP identifies regional road and rail links aligned closely with trade routes toward the east.
• Planned measures to streamline and harmonize trade procedures will cover both land-based and sea-based routes.
• This will open opportunities for the SASEC countries to participate more actively in regional value chains that are more advanced in Southeast Asia.
• The SASEC OP also promotes the development of economic corridors within and between the member countries.
• The energy strategy under the SASEC OP aims to diversify the energy mix in the SASEC countries to cope with the projected increase in demand.
• The immediate priority is to improve energy infrastructure that will allow countries to access commercial sources of energy and diversify their fuel mix.

ANSWER: 2016-2025

Explanation:

• The six (6) member countries of the South Asia Sub-regional Economic Cooperation (SASEC) program—Bangladesh, Bhutan, India, Maldives, Nepal, and Sri Lanka— released , the SASEC Operational Plan (OP) 2016-2025.
• The SASEC OP is the program’s first comprehensive long-term plan to promote greater economic cooperation among the member countries.
• Established in 2001, the SASEC program is a project-based partnership to promote regional prosperity by improving cross-border connectivity, boosting trade among member countries, and strengthening regional economic cooperation.
• The Asian Development Bank (ADB) is the secretariat and lead financier of the SASEC program.