China calls countries interested in AIIB to join by Mar 31

AIIB

China has called on all countries interested in joining the Asian Infrastructure Investment Bank (AIIB) to make their decisions before the deadline on March 31.

“March 31 is the deadline for countries to apply to join the bank as founding members, but the door will always be open for interested countries,” Foreign Ministry spokesman Hong Lei told a daily news briefing on Wednesday.

The China-proposed AIIB, with an expected initial subscribed capital of $50 billion, will be an international financial institution to fund infrastructure projects in Asia. It is expected to be formally established by the end of 2015.

Twenty-one countries including China, India and Singapore signed a Memorandum of Understanding last October in Beijing on creating the bank. China’s Finance Minister Lou Jiwei said on March 6 that 27 countries had applied to join as founding members.

Germany, France and Italy on Tuesday confirmed their respective intentions to join the AIIB, in the wake of Britain’s application last week to be a founding member.

The bank has drawn concern from the United States that the new institution should incorporate the high standards of the World Bank while Japan and the Republic of Korea (ROK) have yet to express interest in joining.

“China, Japan and the ROK will surely exchange views on issues of mutual interest during the three-way foreign ministers’ meeting on March 21, with the possibility of discussing (AIIB) related issue,” Hong said.

He reiterated that the bank would benefit developing Asian countries that lack infrastructure funds and would adopt the best practices of other multilateral development banks.

“China upholds an open and inclusive attitude in the building and operation of the bank. We’re confident that the AIIB will become a sound platform for Asian economic development,” he said.

 

 

 

Source : China Daily | March 19, 2015

Thomas D’Innocenzi

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Thomas D'Innocenzi is a highly accomplished, results-focused senior international executive with extensive experience in global sourcing and market development worldwide to meet evolving business needs. Tom has proven ability in implementing and managing profitable global sourcing operations worldwide. Extensive experience in international market development operations to accommodate rapid growth. Skilled in building top-performing teams, benchmarking performance, and restricting organizations to improve efficiency, productivity, and profitability. Experienced transition leader and change agent. As principal of Nova Advisors, LLC I’ve assembled an exemplary team that brings with them the knowledge and experience gained from starting up a Global Sourcing program with multiple Fortune 500 companies as well as the largest supplier network throughout the Asia-Pacific region. We have experience and expertise in more than a thousand medical and pharmaceutical products in manufacturing and sourcing at the best value. The right product, the right price point and the right branding fueled these successes that resulted in double-digit growth for top line sales and bottom line net margins for our customers. What sets us apart: • Our reach includes a large network of suppliers & manufacturers spanning 13 countries in Asia-Pacific region • We understand the manufacturing process and the business of the supplier and the buyer • Our company culture is based on quality assurance and our process is based on local quality control Our commitment is to be your partner offering the best products and services at the lowest cost. Contact me to discuss how we can make the global marketplace work for you. thomas@novaadvisors.com In addition, I am open to discussing opportunities in global sourcing, international marketing & sales, logistics and medical/pharma in Thailand, Vietnam, Malaysia, Philippines & Japan. Aside from my work I enjoy piano, astronomy, physics, and assisting my daughters with their studies. SPECIALTIES: Global Sourcing, Supply Chain Management, Business Development, Marketing, Logistics, Global Networking, Market Development, Healthcare Solutions, Pharmaceuticals, Medical Devices, Technology, Asia, Southeast Asia, US and Canada
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