SASEC - GS questions based on daily current affairs

1)   Which of the following is/are true regarding SASEC Operational Plan (OP) objectives?

1) SASEC OP aims to diversify the energy mix in the SASEC countries.
2) SASEC OP plans to harmonize trade procedures of both land-based and sea-based routes.


a. Only 1
b. Only 2
c. Both 1 and 2
d. Neither 1 nor 2
Answer  Explanation 

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.


2)   SASEC Operational Plan is for

a. 2015-2024
b. 2016-2020
c. 2016-2025
d. 2015-2019
Answer  Explanation 

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.