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China mulling designated name for Taiwan to join AIIB: official

ROC Central News Agency

2016/03/23 18:55:42

Boao, China March 23 (CNA) China's top negotiator with Taiwan said Wednesday that the issue of what name should be used by Taiwan to participate in the Beijing-initiated Asian Infrastructure Investment Bank (AIIB) is now "under discussion."

Chen Deming (陳德銘), head of China's Association for Relations Across the Taiwan Straits, said Chinese President Xi Jinping (習近平) has made it clear that Beijing would welcome Taiwan's participation in the AIIB.

"The name under which Taiwan would participate is under discussion," Chen said in response to reporters' questions on the sidelines of the Boao Forum for Asia, in the Chinese province of Hainan.

On the question of the progress of two pending cross-Taiwan Strait trade agreements, Chen said Taiwan first has to deal with the enactment of a bill to allow stricter screening of agreements with China.

The cross-strait agreement on trade-in-services has been stalled in the Legislature since it was signed in June 2013. Concerns that the agreement would hurt Taiwan's interest and accusations that the government conducted 'black-box' negotiations on the pact also led to a protest in March 2014, in which students stormed the Legislature and occupied the main chamber for 24 days, demanding stricter scrutiny of cross-strait agreements.

Negotiations on a proposed trade-in-goods agreement have also been suspended while the cross-strait agreement supervisory act is being processed.

Meanwhile, Taiwan has expressed interest several times in joining the AIIB, saying its participation will be beneficial to its economic and financial development.

Last year, Taiwan sought to become a founding member of the AIIB but its bid was rejected by China, which did not give any specific reasons and but said Taiwan would be welcome to participate later "under an appropriate name."

No apparent progress has been made on the issue, however, although China has said it welcomes Taiwan's interest.

The AIIB was established by China to finance major infrastructure projects across Asia and is regarded by some as a potential rival to the International Monetary Fund, the World Bank and the Asian Development Bank (ADB), institutions that are all dominated by developed countries such as the United States.

Taiwan, known officially as the Republic of China, often has trouble joining international organizations because of opposition from Beijing.

(By Feng Chao and Elaine Hou)
ENDITEM/pc