MICHAEL ROWLAND: A resurgent al-Qaeda is the last thing the US and its Coalition allies need at the moment. Bogged down in Baghdad and bracing for a fresh Taliban offensive in Afghanistan, Coalition forces are already stretched perilously thin.

But American Intelligence agencies have concluded al-Qaeda has been steadily rebuilding its global terror network from its operational hub in Pakistan's remote northwest.

The New York Times quotes intelligence officials who say they've identified a number of new al-Qaeda training camps in the Pakistani tribal area of north Waziristan. The officials believe the operatives being trained there are being groomed to launch terrorist attacks in neighbouring Afghanistan and beyond.

The assessment is supported by terrorism analyst Peter Bergen, at the New America Foundation.

PETER BERGEN: Now these are not training camps you can see for the air, from a satellite. But they're inside compounds, you're getting 10 to 20 people practising bomb making, doing exercises.

And we're seeing some of this stuff showing up in these kinds of al-Qaeda training tapes that are coming out, showing training only, in the training, in the tribal areas. And of course, this is more than just training. People are using this training to go and do things.

MICHAEL ROWLAND: Peter Bergen points out that two of the four men involved in the London subway bombings in July 2005 travelled to Pakistan before the attacks.

The officials quoted by the New York Times also say al-Qaeda's leadership remains largely intact, with Osama Bin Laden and his deputy Ayman al-Zawahiri, coordinating the rebuilding effort.

Mr Bergen, who's had the dubious honour of actually meeting Bin Laden, believes al-Qaeda is on the march.

PETER BERGEN: So unfortunately this group, which the conventional wisdom was that it was sort of out of business, unfortunately is back in business. What that means for American security isn't really clear. What it means for British security is very clear already. They've launched one attack in July 2005, an al-Qaeda operation. They've also tried to bring down 10 American airliners, in August of last year. That plan luckily didn't work out...

For the complete transcript, please visit the ABC Radio Australia website.