DHAKA: Asia Pacific countries agreed on Saturday to cooperate on the extradition of corrupt officials, enhance asset recovery efforts and establish an anti-corruption transparency network to share intelligence on graft.

The network, called the Apec Network of Anti-Corruption Authorities and Law Enforcement Agencies (ACT-NET), is the first such network that members of the Asia-Pacific Economic Cooperation group had worked to set up.

It is led by China but also pushed forward by the United States.

The network would be an informal one ‘for sharing information’ among anti-corruption and law enforcement authorities in the Asia-Pacific region, according to a statement issued by the Apec members.

The agreement commits the 21 member economies in the Asia-Pacific region, including China and the United States, to ‘deny safe haven to those engaged in corruption, including through extradition, mutual legal assistance and the recovery and return of proceeds of corruption’, reports The Straits Times.

BDST: 1606 HRS, NOV 08, 2014