More countries joining AIIB
March 30, 2015 Category Finance, Weekly
South Korea said it was seeking to be a founding member of the Asian Infrastructure Investment Bank (AIIB), another key U.S. ally joining the China-led institution despite Washington’s misgivings. China is South Korea’s largest trading partner and the two countries aim to sign a free trade agreement (FTA) this year. Turkey, Australia and Denmark have also applied to join. The application deadline for prospective founding members is March 31. Danish Minister of Trade and Development Mogens Jensen said the bank’s establishment was “a significant and exciting development in the world order”. The list of 42 founding members also includes Russia and the Netherlands. China has emphasized it would not have veto power in the bank. A final decision on the members’ list will be made on April 12. Of the world’s major economies, only the United States, Japan and Canada have not declared their intention to join the AIIB, though they could apply at the last minute or join later as ordinary members. Wrapping up a five-day visit to China, International Monetary Fund (IMF) President Christine Lagarde said she welcomed the establishment of the Asian Infrastructure Investment Bank (AIIB) and said the IMF would be delighted to cooperate with it.
- KURT VANDEPUTTE (UMICORE) APPOINTED CHAIRMAN OF THE BOARD OF THE FLANDERS-CHINA CHAMBER OF COMMERCE (FCCC)
- Webinar: “Knowing Your Chinese Partner” – May 26, 2021, 10 am – 12 am
- EMA starts rolling review of CoronaVac, WHO approves Sinopharm vaccine for emergency use
- The Global Times warns not to politicize the Comprehensive Agreement on Investment (CAI)
- Hainan to become biggest duty-free market in the world