Terror financing discussed at 8th ministerial meeting of India-US Economic and Financial Partnership Dialogue
Oct 15, 2021
Washington DC [US], October 15 : The Eighth ministerial meeting of India-US Economic and Financial Partnership Dialogue was held on Thursday (Local Time) in Washington DC and discussions were held on a range of subjects, including anti-money laundering and combating the financing of terrorism (AML/CFT).
The meeting was chaired by the Union Minister for Finance and Corporate Affairs Nirmala Sitharaman and the United States Secretary of the Treasury Dr Janet Yellen, said the Ministry of Finance in a statement.
During the ministerial meeting of the India-USA Economic and Financial Partnership, discussions were held on a range of subjects, including the macroeconomic outlook and recovery from the COVID-19 pandemic, financial regulatory and technical collaboration, multilateral engagement, climate finance and anti-money laundering and combating the financing of terrorism (AML/CFT).
Both sides affirmed their commitments to continue collaboration both at bilateral and multilateral fora to address mutual and global economic issues and strive towards amicable strategies and solutions, said the Ministry of Finance in a statement.
In Joint Statement on the Eighth US-India Economic and Financial Partnership, the two sides reiterated that regular and productive dialogue on economic policies is crucial to the US-India relationship and to achieving their shared global future.
During the ministerial meeting, both ministers took stock of the extensive efforts that have already been undertaken by both sides to deepen mutual understanding and highlighted new elements of the vital bilateral relationship.
"We had productive discussions on a range of subjects, including the macroeconomic outlook and recovery from the pandemic, financial regulatory and technical collaboration, multilateral engagement, climate finance, and anti-money laundering and combating the financing of terrorism (AML/CFT)," US Treasury Department statement read.
"We continue to strengthen our cooperation in tackling money laundering and combating the financing of terrorism through increased information sharing and coordination. Both sides agree on the importance of fighting financial crimes and on the effective implementation of the Financial Action Task Force standards to protect our financial systems from abuse."
The joint statement said both sides acknowledge the unprecedented impact that the COVID-19 crisis has had on lives and livelihoods.
"Today's meeting featured the Economic and Financial Partnership's first session dedicated to climate finance, reflecting our respective commitments to driving urgent progress in combatting climate change and the critical role of climate finance in achieving this shared global goal. We shared views on the re-energised global efforts to increase climate ambition as well as our respective domestic efforts to meet our publicly expressed climate goals," the joint statement said.
