B. Founding Read the passage carefully, then choose the correct answer.

As its first Dialogue Partner, Australia has a longstanding and deep relationship with ASEAN, covering cooperation in a range of areas including security, culture, trade, education and development. Along with Australia‘s participation in annual ASEAN meetings with Dialogue Partners, the ASEAN- Australia Forum is held every 18 months to two years, most recently in May 2008 in Canberra.

Australia, New Zealand and ASEAN Ministers signed the ASEAN-Australia- New Zealand Free Trade Agreement on 27 February 2009. ASEAN collectively is Australia‘s largest trading partner.

In 2007, ASEAN received around 12 per cent of Australia's total exports, and was the source of 19 per cent of Australia's imports. Two-way trade in goods and services with ASEAN totalled $81 billion and accounted for 17 per cent of Australia's total trade.

Education services are Australia's largest services export to ASEAN. Australia is a leading provider of on-shore and off-shore education services to the region, with over 70,000 students from ASEAN countries studying at Australian educational institutions in 2007.

Academic and institutional links between Australia and ASEAN continue to strengthen with many Australian universities setting up offshore campuses.

Australia has worked in partnership with ASEAN for over 30 years to build economic cooperation and prosperity in the region including through the 'ASEAN-Australia Development Cooperation Program.

Singapore has made an impressive recover after the Asian __________ crisis of 1997 - 1998.