Moves to freeze terror funds called for

Moves to freeze terror funds called for

Agence France-Presse, Manila

Southeast Asia and its major western trading partners are expected to call for moves to freeze terror funds and stronger cooperation to fight terrorism in an upcoming meeting in Brunei, Filipino officials said on Wednesday.

According to a draft of the proposed joint statement, the ASEAN Regional Forum (ARF) would agree to implement "quickly and decisively" measures recommended by the United Nations to "stop the financing of terrorism," including the freezing of assets by terrorists and their associates.

Members would also be called upon to work with the International Monetary Fund (IMF), the World Bank, the Financial Action Task Force (FATF) and other similar bodies to combat "the abuses of the financial system," that could lead to the funding of terrorists, it said.

"In the interest of global peace and security, the participants in the ASEAN Regional Forum are determined to stop the financing of terrorism," the draft statement said.

"The fight against terrorist financing is a shared responsibility by the international community."

The draft will be presented for approval at the ASEAN foreign ministers meeting to be held in Brunei on July 28 to Aug. 1.

The draft document was prepared in consultation with the members following an ARF workshop on cutting financing to terrorists in March in the wake of the Sept. 11 attacks on the United States.

Members of the group, which is Asia's main defense forum, were also called upon to broaden their cooperation and exchange information on likely terror funds.

The ARF includes Association of Southeast Asian Nations (ASEAN) members Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam and "dialog partners" Australia, Canada, China, the European Union, India, Japan, Mongolia, New Zealand, North Korea, Papua New Guinea, Russia, South Korea and the United States.