The Mainland Affairs Council (MAC) yesterday said it did not know what was delaying three planned financial memorandums of understanding (MOU) with China, but rejected the possibility that Beijing would use it as a bargaining chip to demand something in return.
MAC Deputy Minister Liu Te-shun (劉德勳) said he did not think Beijing would use the three MOUs as bargaining chips because they are normal for many countries, although it is the first time that Taipei and Beijing have decided to sign such a document.
“I have not heard of any external factors [to delay the MOUs],” Liu said.
“Because the MOUs are simple in nature, it would be strange to use them as an apparatus to demand something else,” he said.
Liu said he did not know exactly what had stalled the process of signing the three financial MOUs, but that the council hoped they would be signed soon.
The Financial Supervisory Commission (FSC) said it expected to sign the three MOUs in July. Liu said he was “quite surprised” when he heard that the FSC had made such an announcement.
Liu said that while the FSC did not report to his council on a daily basis, MAC officials were regularly informed of the MOUs’ progress.
The last time his council had heard from the FSC was at the end of last month when the commission said “things were pretty much ready,” Liu said.
Both sides signed an agreement in June this year on financial cooperation, which will be followed by signing three financial MOUs on banking, insurance and securities and futures.
Liu said that because financial MOUs were highly professional and technical in nature, they did not concern politics. If Beijing had wanted to politicize the issue, it would have done so when the agreement was signed in June, he said.
The next round of cross-strait high-level talks will be held in Taichung in mid or late December.
Liu said a security task force had been established to ensure the safety of Straits Exchange Foundation Chairman Chiang Pin-kung (江丙坤) and his Chinese counterpart, Association for Relations Across the Taiwan Strait Chairman Chen Yunlin (陳雲林).
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