Which association holds the annual BALTOPS naval exercise ........

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Which association holds the annual BALTOPS naval exercise?

European Union

NATO

Shanghai Cooperation Organisation‎

ASEAN

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Explanation:

NATO launched the two-week United States-led naval exercise on the Baltic Sea with more than 7,000 sailors, airmen and marines from 16 nations.
Finland and Sweden, who have applied to join the military alliance, also participated in the event. The annual BALTOPS naval exercise was initiated in the year 1972.