With reference to 'Indian Ocean Rim Association for Regional Cooperation (IOR-ARC)', consider the following statements: 1. It was established very recently in response to incidents of piracy and accidents of oil spills. 2. It is an alliance meant for maritime security only. Which of the statements given above is/are correct?

Option (d) is correct because IOR-ARC (now IORA) was established in 1997, not recently, and its mandate encompasses broad regional cooperation including trade, investment, and fisheries. Statement 2 is a common trap because while maritime security is a priority area, the word "only" incorrectly limits the association's multi-dimensional scope. The core concept being tested is the historical origin and the comprehensive socio-economic mandate of regional intergovernmental organizations.