BIMSTEC seek cooperation in combating money laundering, terrorism financing

Yangon, April 27 (IANS) Representatives of seven member countries of the BIMSTEC gathered in Myanmar for a two-day meeting to seek cooperation in combating money laundering and terrorism financing, a media report said on Thursday.

Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) groups consists of Bangladesh, India, Myanmar, Sri Lanka, Thailand, Nepal and Bhutan.

In the discussions which began on Wednesday, the representatives touched on topics including evaluation for better cooperation in combating the financing of terrorism, the cyber threat in the financial sector of the regional group, development of human resources to fight the illicit financial flow and preventing financing of terrorism, Xinhua news agency reported.

The ninth meeting also discussed issues on cooperation between international organisations and improving the legal framework of the membership countries.

In September last year, Myanmar hosted a meeting of BIMSTEC anti-drug trafficking group, focusing on capacity building and technical assistance between the member countries.