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Monday, June 27, 2011

Seoul talks to discuss ways to cut funding for Somali pirates

Asia Pulse

June 27, 2011

SEOUL, June 27 Asia Pulse - More than 100 officials from some 30 nations will gather in Seoul this week to discuss ways to monitor and disrupt the flow of illegal funds that finance pirates in waters off the coast of Somalia, Seoul's Foreign Ministry said Monday.

The so-called Contact Group on Piracy off the Coast of Somalia (CGPCS) was established in 2009 under a U.N. Security Council Resolution to coordinate actions among some 50 nations and organizations to combat Somali pirates.

The one-day CGPCS conference, set for Wednesday, is aimed at drawing up viable means to cut the flow of illicit money, sharing information on pirates and strengthening efforts to prevent money-laundering practices in Somalia and its neighboring nations, the ministry said in a statement.

Wednesday's conference was based on the result of the seventh plenary meeting of the CGPCS in November last year in New York, where member nations agreed to make joint efforts to disrupt the flow of illicit funds for Somali pirates, according to the statement.

South Korea has deployed a destroyer with some 300 special Navy troops since early 2009 in the Gulf of Aden to patrol pirate-infested waters off the African nation under a U.S.-led multinational campaign.



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