, Sept. 8 -- 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).

It marks a significant milestone in BIMSTEC's efforts to promote regional cooperation in combating money laundering and financing of terrorism, the BIMSTEC said on Sunday.

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, said the Secretariat.

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It will reinforce BIMSTEC's collective commitment to peace, stability and...