The finance ministry says Taiwan is looking to join the China-led Asian Infrastructure Investment Bank (AIIB) as a member of the Asian Development Bank (ADB).
China on Monday released a charter and timetable for AIIB membership applications. In the charter, the bank says it is open to ADB members although applicants which do not enjoy independent sovereignty must either receive approval from the ADB or ask the ADB to apply on their behalf.
China sees Taiwan as part of its territory, rather than an independent and sovereign nation. That prevented Taiwan from becoming a founding member of the AIIB. It’s thought that the wording in the charter released on Monday could pave the way for Taiwan to become part of the bank.
Taiwan’s finance ministry says it will contact the AIIB to find out more about the timetable and the procedures for joining the bank. The ministry says the AIIB will begin operations by the end of the year at the earliest.
It is expected that Taiwan will join the AIIB as “Chinese Taipei”, which is the name it uses when participating in APEC and the WTO.