The Executive Yuan today said that it is regrettable that Taiwan is unable to become a prospective founding member of the Beijing-proposed Asian Infrastructure Investment Bank (AIIB).
As for whether Taiwan can still join as an ordinary member of the bank, the government will closely monitor the drafting of the AIIB charter to see if it upholds the principles of dignity and fairness when admitting new members, Executive Yuan Spokesperson Sun Lih-chyun said. Taiwan will keep options open for participating in the multilateral finance organization, and any actions in the future will be taken under the parliament's oversight to ensure the nation's interests are protected.
On hearing news of the failed application, Premier Mao Chi-kuo instructed the relevant agencies to take appropriate response measures and promptly arranged a visit to the Legislature. He thanked Legislative Yuan President Wang Jin-pyng for gathering ruling and opposition caucuses to hear a report by the Executive Yuan and for helping build consensus on many issues, Sun said.
According to Sun, the Executive Yuan and Legislative Yuan both agreed that Taiwan should become a member of the AIIB—but only if Taiwan is treated with fairness and equality. In the coming weeks, the government will lobby AIIB founding members friendly to Taiwan to support the nation during discussions of the bank's charter and to arrange membership in a manner acceptable to Taiwan.
As for the name used by Taiwan in its application, the executive and legislative branches agreed on "Chinese Taipei" as the bottom line; if this is not honored, Taiwan will not join the AIIB.
Taiwan submitted a letter of intent to become a prospective founding member of the AIIB in March in an effort to increase participation in international organizations, Sun said. Though the agency responsible for establishing the AIIB has indicated that Taiwan is unable to become a founding member, it does not rule out the possibility of ordinary membership in the future. The agency will also take Taiwan's opinions into consideration in the course of drafting the AIIB charter. Based on these statements, the Executive Yuan will continue following developments closely and keep the parliament and the nation apprised of all the latest information.