Asia-Pacific Group on Money Laundering gives BIMSTEC Observer Status

Tuesday, 9 September 2025 01:09 - - {{hitsCtrl.values.hits}}

The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) has been granted Observer Status by the Asia-Pacific Group on Money Laundering (APG).

The BIMSTEC Secretariat has announced the development on Sunday calling it a significant milestone in BIMSTEC’s efforts to promote regional cooperation in combating money laundering and financing of terrorism.

“Since establishment of the Joint Working Group on Counter Terrorism and Transnational Crime (JWGCTTC) in 2005, and its Sub-Group on Anti-Money Laundering and Combating the Financing of Terrorism, BIMSTEC has consistently advanced initiatives for information exchange, capacity building and development of joint strategies to address illicit financial flows among the member States,” the BIMSTC Secretariat said in a statement.

Observer Status at the APG will enable BIMSTEC to engage with the relevant regional and global institutions, benefit from international best practices and contribute to shaping responses to emerging financial crimes. It will reinforce BIMSTEC’s collective commitment to peace, stability and sustainable economic development in Bay of Bengal region.