BOAO Wholesale Vegas Golden Knights Jersey , Hainan, March 27 (Xinhua) -- The Republic of Korea and Turkey have announced their decision to join the Asian Infrastructure Investment Bank (AIIB), the latest batch of wait-and-see countries to join as the application deadline draws close.
The move brought the number of countries and regions to apply as founding members for the China-proposed international lending institute to 37 as of Friday.
On Friday, China' s Ministry of Finance welcomed the decision and said the ROK will become a founding member by April 11 if other members approve.
The ROK and Turkey are part of an emerging wave of countries joining the AIIB which was started by Britain, who unexpectedly filed its application on March 12.
The bank now has 27 prospective founding members with the rest waiting for two-week approval, the ministry said.
The AIIB originally had 21 founders including China Wholesale Winnipeg Jets Jersey , India and Singapore which signed a Memorandum of Understanding (MoU) on the establishment of the bank last October in Beijing.
No western government was involved at that time.
The ice was broken on January 1, when New Zealand was officially approved as a founding member, the first developed economy to join. However, most developed economies remained uninvolved until Britain joined.
Since then France, Germany, Italy Wholesale Washington Capitals Jersey , Luxembourg and Switzerland have decided to join.
""It is good to see so many countries all over the world are joining, Asian countries and European countries,"" Hans-Paul Burkner, Chairman of the Boston Consulting Group, said on Friday during an exclusive interview with Xinhua, describing the trend as a very positive development.
But the United States and Japan Wholesale Vancouver Canucks Jersey , leaders of the World Bank and the Asian Development Bank (ADB) remained indifferent.
The Unite States has been too slow in accepting the necessity of the AIIB in the Asian world, Leo Melamed, the founder of global financial futures markets, said during the Boao Forum for Asia (BFA) Annual Conference 2015 held in Boao, a coastal town in south China's Hainan province.
""The AIIB is a very important move by Asia. I applaud that move. And it's necessary there is a development bank like such for the Asian world, whose economic volume is at least a third of the whole planet Wholesale Toronto Maple Leafs Jersey ,"" said Melamed, Chairman Emeritus of the Chicago Mercantile Exchange.
The AIIB will be an international financial institution providing support to infrastructure projects in Asia, and is expected to be established by the end of this year.
Burkner said there is enormous need for infrastructure investments around the world and particularly in Asia with fast growing population, which is not possible for the World Bank or the ADB alone to satisfy.
""It also means more momentum in infrastructure investment, there will be cooperation and also some healthy competition with the ADB and the World Bank,"" he said.
Burkner also dismissed concerns on the AIIB' s governance and transparency.
""The more countries that participate Wholesale Tampa Bay Lightning Jersey , the more China allocates different roles and responsibilities,"" he said, noting the governance structure and transparency will keep improving in the process.
Experts believe that more countries and regions will choose to participate in the establishment of the bank, and the U.S. may be no exception.
""I think they will join because it will be foolish not to,"" said Melamed.
U.S. Treasury Secretary Jacob Lew will visit China as an envoy of President Barack Obama on Monday and Tuesday, just ahead of the deadline of March 31.
" "
TOKYO Wholesale St. Louis Blues Jersey , March 27 (Xinhua) -- Japanese Prime Minister Shinzo Abe would disappoint U.S. President Barack Obama over the U.S.-led Trans-Pacific Partnership (TPP) free trade talks as the Japanese conservative leader said Friday that his country would not make easy concessions on accelerating the negotiations. ""It is impossible to make unnecessary concessions in line with my trip to the United States,"" Abe told a Diet session, adding that the TPP free trade talks are ""in the final phase, but problems remain"".
The prime minister made the remarks ahead of his eight-day visit to the United States from April 26, and he will visit the White House on April 28 to have a summit with Obama who is eager to conclude the marathon TPP talks at an early date so as to leave positive legacy for his Democrats in future presidential elections.
Japan is reluctant to open its agriculture market, particularly on rice and pork Wholesale San Jose Sharks Jersey , to inexpensive U.S. products, while the United States is considering that when it will remove its tariff over Japan-import cars. The Lingering differences between the two major economies in the 12-member bloc are regarded as a drag on the whole negotiations.
Abe's comments undoubtedly cast shadows over the conclusion of the talks. However, U.S. Trade Representative Michael Froman on Thursday expressed his confidence of an early deal. ""We do feel that we can close this out in a very small number of months,"" he said in Washington.
Obama visited Japan in April last year with an ambitious plan to push forward their TPP-related talks. The president sought to acquire Japan's concession by reiterating U.S. defense commitment to its ally over disputed islets with neighbouring countries.
Abe's U.S. trip will also make him the first Japanese leader to address the Congress on April 29. ""His address will provide an opportunity for the American people to hear from one of our closest allies about ways we can expand our cooperation on economic and security priorities,"" John Boehner, House of Representatives speaker Wholesale Pittsburgh Penguins Jersey , said in a statement.
However, regarding the Japanese leader's historical revisionism, a group of U.S. World War II soldiers and their relatives have said Abe should only be invited to Congress for a speech if he admits Japan's historical responsibility for its wartime conduct, accordi
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