Australia, Indonesia to co-host counter-terrorism summit

Australia and Indonesia on Thursday agreed to co-host an international counter-terrorism summit aimed at preventing the funding of extremist organizations.

The summit, to be held in Sydney during November, will involve representatives from the Association of Southeast Asian Nations ( ASEAN) as well as other key countries.

Australia's Minister Assisting the Prime Minister on Counter- Terrorism, Michael Keenan, released a statement on Thursday, saying it was "vital" that key nations could collaborate and come up with ways to cut the flow of money heading to terrorist organizations.

Keenan said the delegates, hosted by Australia's and Indonesia' s financial intelligence units, AUSTRAC and PPATK, would assess "a range of financial channels to counter the terror threat and combat transnational crime in the critical parts of our region."

"Terrorists and criminals cannot operate without funds, and AUSTRAC plays an integral part in Australia's national security and crime fighting network to follow the money trail and shut down criminal syndicates," Keenan said.

"The summit will draw together counter-terrorism financing specialists, law enforcement, national security representatives, policy-makers, industry and academics from ASEAN countries and other key countries that are at the forefront of countering terrorism financing and violent extremism."

Keenan said a key focus for the summit would be boosting the collective efforts to track terrorism financing and proceeds of crime.

"Following the money trail is an essential element of tackling terrorism and organized crime, and international cooperation is vital in detecting and disrupting illegal operations," he said.

The minister added co-hosting the talks with Indonesia would serve to continue to strengthen ties between the two nations. Since April, when Indonesia executed two Australian prisoners despite pleas for leniency from the Australian government, relations between the two nations have been frosty.

"While AUSTRAC and PPATK already work collaboratively to protect the national interests of both our countries, this agreement to co-host the summit recognizes the strength of the relationship and cooperation between (the two countries)," he said.

AUSTRAC CEO, Paul Jevtovic, and PPATK head, Dr Muhammad Yusuf, will co-chair the summit in November.