07:18 GMT29 February 2020
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    The finance ministers of the Group of Seven (G7) industrial economies agreed to cooperate in combating terrorist financing, the G7 said in an action plan published Saturday.

    TOKYO (Sputnik) – The G7 finance ministers and central bank governors wrapped up their two-day meeting in Sendai, Japan, a week ahead of the May 26-27 G7 Summit in Ise-Shima.

    "Sound international cooperation and information exchange is critical in order to effectively tackle terrorist financing. In this regard, the G7 supports the related on-going work in FATF [Financial Action Task Force] and Egmont Group [of Financial Intelligence Units], and commits to explore whether there is scope for further improvements," the action plan read.

    With a view to "put forward pragmatic proposals to address potential vulnerabilities," the economies committed to identifying existing barriers to information-sharing between their mutual financial intelligence units, as well as explore new and innovative forms of information-exchange and international cooperation.

    The G7 meetings in Ise-Shima will focus on the global economy, climate change, free trade, counterterrorism, North Korea, migration flows and the situation in Ukraine, US government officials said earlier this week.

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