Direction: In the question given below, a passage is given followed by some statements. Read the passage and answer the following question.

The South Asian Association for Regional Cooperation (SAARC) was established on 8 December 1985. But till date, SAARC members have failed to integrate properly and take advantage of existing opportunities. The main reason for the slow progress of SAARC integration is the low level of trade between the two largest partners – India and Pakistan. SAARC would be successful if it could remove the irritants between India and Pakistan. SAARC should also give equal importance to the development of supply chains. Apart from tariff rates and market access, trade facilitation measures should be carried out across SAARC for improving trade ties. Also, South Asian countries should abolish non-tariff barriers so that the free flow of trade happens unhindered. Cooperation in the area of customs procedures and other regulations would certainly help to achieve the objectives of expansion of regional trade, investment, and supply chain development.

Which of the following statement is true according to the passage?

I) Tread policies between India and Pakistan is good.

II) SAARC members should remove one country between India and Pakistan in order to get success.

III) SAARC is a failure, it should be abolished.

IV) SAARC should focus on the development of the supply chain.

V) SAARC is established more than three decades ago.