Consider the following statements: 1. China has the observer's status at the South Asian Association for Regional Cooperation. 2. India has the observer's status at the Shanghai Cooperation Organisation. Which of the statements given above is/are correct?

1. Statement 1 is correct. China was granted observer status at the South Asian Association for Regional Cooperation (SAARC) in 2005. 2. Statement 2 is correct. India was granted observer status at the Shanghai Cooperation Organisation (SCO) in 2005 (and later became a full member in 2017).