Combating the financing of terrorism and economic development were among the issues at the 4th ASEM Finance Ministers’ Meeting on 5-6 July 2002 in Copenhagen, Denmark.

The meeting was attended by the Finance Ministers from 10 Asian nations, the 15 European Union member states and the Commissioner for Economic and Monetary Affairs, under the chairmanship of the Danish Presidency of the European Union. The host was the Danish Minister for Finance, Mr. Thor PEDERSEN.

The President of the Asian Development Bank (ADB), the Vice President of the European Central Bank (ECB) and the International Monetary Fund (IMF) attended as guests at the meetings in the Danish capital.

The ministers exchanged views on combating the financing of terrorism, money laundering and abuses of the global financial system, as well as on how to strengthen the international financial system.

On the occasion of the ASEM meetings, Minister for Finance, Thor PEDERSEN underlines the necessity of the fight against the financing of terrorism after September the 11th and states:

“We have reaffirmed our commitment to continue combating the financing of terrorism and money laundering. This fight is happening at the global level but action and follow-up at the national level is crucial. We have taken stock of the activities taking place in the ASEM framework.

The ministers and head of delegations also discussed the economic development in Asia, Europe and the rest of the world with particular emphasis on structural reforms in Asia and the EU.

“We have exchanged views on the global economic outlook and we have gained insights on some specific challenges confronting our countries. The ASEM countries agree on the necessity to continue the ongoing work on structural reforms,” says the Danish Minister for Finance.