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

Advertisements

About thomasdinnocenzi

Thomas D’Innocenzi is a highly accomplished, results-focused international consultant with extensive experience in global sourcing and business development worldwide to meet evolving business needs. Tom has proven ability in implementing and managing profitable global marketing and sourcing operations. He has extensive experience in international business development to accommodate rapid growth. Skilled in building top-performing teams, bench-marking performance, and developing organizations to improve efficiency, productivity, and profitability. Experienced transition leader and change agent. Tom founded Nova Advisors with the mission of providing expert Global Business Development consulting services for companies seeking to expand their market share as an independent consultant. Tom has a network of experts and advisors throughout the Asia-Pacific region and North America. His expertise includes business development, global sourcing, manufacturing, commodities, logistics, QA/QC, FDA, regulatory compliance, sustainability, and supply chain optimization. Tom is experienced in the medical device, apparel, consumer goods and technology services verticals helping companies advance their global sourcing capabilities and develop new markets through a local and sustained approach. Located in SE Asia and the United States, Tom expands market reach to drive sales. His global sourcing strategy includes directly negotiating with commodity suppliers, supply chain networks and distributors for optimal terms based on his expertise and first-hand knowledge of the players. Contact Tom to use his consulting service to increase your global market and make global sourcing profitable for you in the Asia Pacific Region and the United States. http://www.NovaAdvisors.com thomas@NovaAdvisors.com USA Direct: +1.904.479.3600 SINGAPORE: +65.6818.6396 THAILAND: +662.207.9269
This entry was posted in Business, Economy, Global Sourcing and tagged , , , , , , , , , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s