BIMSTEC gains observer status at Asia-Pacific anti-money laundering body

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

The decision announced on Sunday marking a significant step in BIMSTEC’s efforts to strengthen regional collaboration in tackling money laundering and the financing of terrorism.

APG’s global role

Established in 1997 in Bangkok, the APG is the largest Financial Action Task Force-style regional body, with its Secretariat headquartered in Sydney, Australia. The group plays a pivotal role in advancing Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) standards across the Asia-Pacific region. It also works in close partnership with global institutions including the IMF, World Bank, OECD, UNODC, INTERPOL and the Commonwealth Secretariat.

Recognition of BIMSTEC’s efforts

The APG’s decision to grant Observer Status reflects recognition of BIMSTEC’s sustained initiatives in countering illicit financial flows. Since the establishment of the Joint Working Group on Counter Terrorism and Transnational Crime (JWG-CTTC) in 2005, and its dedicated Sub-Group on Anti-Money Laundering and Combating the Financing of Terrorism, BIMSTEC has advanced programmes for information sharing, capacity building and joint strategies among its seven member states.

Observer Status at the APG will enable BIMSTEC to engage more closely with regional and global institutions, draw from international best practices and contribute to collective responses to emerging financial crimes. The Secretariat said the new status would reinforce BIMSTEC’s commitment to peace, stability and sustainable economic development in the Bay of Bengal region.

Appreciation to member states

In a statement, the BIMSTEC Secretariat expressed gratitude to the APG and its members for recognising the organisation’s role. It also thanked the BIMSTEC member states—particularly India, which leads regional cooperation in the security sector—for their support in securing Observer Status.

About BIMSTEC

BIMSTEC comprises Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka and Thailand. The organisation promotes cooperation across seven core sectors—agriculture and food security; connectivity; environment and climate change; people-to-people contact; science, technology and innovation; security; and trade, investment and development. It also covers eight sub-sectors, including blue economy, mountain economy, energy, disaster management, fisheries and livestock, poverty alleviation, health, and human resource development.