MOF commits to Taiwan’s AIIB bid

2016/01/20

Securing Taiwan’s membership in the Asian Infrastructure Investment Bank and playing a bigger role in regional development remain a priority for the ROC government, according to the Ministry of Finance Jan. 18.

“In accordance with the consensus reached in April 2015 among Taiwan’s political parties, the ministry is approaching the issue under the principle of dignity and reciprocity in promoting national interests,” an MOF official said. The statement follows the AIIB formally opening for business Jan. 16 in Beijing. 

According to the official, as an Asian Development Bank member, Taiwan can apply to join the AIIB pursuant to the latter’s charters. As such, the Mainland Affairs Council sent a letter of intent to the bank in March 2015 expressing the nation’s interest in taking part.

“Given our abundant capital, talent and technical know-how in implementing infrastructure projects, there is no doubt we can play a valuable role in AIIB,” the official said. “Membership would also provide tremendous business opportunities for local firms while underscoring the bank’s inclusiveness and openness.

“In addition, our AIIB participation would bear testament to peaceful cross-strait relations and extend positive two-way interactions to multilateral events.”

With the AIIB’s board of directors set to hold its quarterly meeting in April, the ministry is keeping a close eye on related developments so as to ensure Taiwan is not left on the sidelines of regional integration.

Proposed in 2014 by mainland Chinese leader Xi Jinping, the AIIB has US$100 billion in equity and 57 founding members, including Austria, Egypt, France, Germany, Italy, Switzerland and the U.K.

Source: Taiwan Today (http://taiwantoday.tw/ct.asp?xItem=241424&ctNode=2194&mp=9)