Q: 49 (IAS/2011)

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Recently the USA decided to support India’s membership in multi-lateral export control regimes called the “Australia Group” and the “Wassenaar Arrangements”. What is the difference between them ?
1. The Australia Group is an informal arrangement which aims to allow exporting countries to minimize the risk of assiting chemical and biological weapons proliferation, whereas the Wassenaar Arrangement is a formal group under the OECD holding identical objectives.
2. The Australia Group comprises predominantly of Asian, African and Page 9 North American countries, whereas the member countries of Wassenaar Arrangement are predominantly from the European Union and American continents.
Which of the statements given above is/ correct?
question_subject: 
Current Affairs
question_year: 
2011
question_exam: 
IAS
question_sub_subject: 
Current Affairs -International
question_topic: 
Current Affairs -International
stats: 
0,448,1152,336,240,592,432