Financial MOU could be signed soon: Wu

Wu made the remarks in interviews with local media, stressing that it is necessary to consult with the legislative caucuses of both the ruling and opposition parties, as well as the financial sector before inking the agreement, although the signing of the MOU is the executive branch's authority,

“It would be more perfect to sign the MOU based on a consensus. Such procedures of consulting with the Legislative Yuan and the financial sector are indispensable and it wouldn't necessarily take much time,” Wu said.

An increasing number of business and industry leaders have expressed growing concern over what they saw as the slow pace in concluding the MOU and the economic cooperation framework agreement (ECFA) with China.

Wu pointed to the public and social opposition over the controversies involving the government's relaxation on beef imports from the U.S. to underline the importance of winning public support, especially from the lawmakers.

The premier said he has asked Legislative Yuan President Wang Jin-pyng to help arrange meetings as early as possible for officials from government agencies involved to give briefings to lawmakers of the ruling and opposition parties.

“It wouldn't be impossible (to sign the MOU) before the end of this week or next week,” he estimated.

The agreement will outline financial regulatory systems to pave the way for Taiwan and China to reciprocally approve operations by each other's financial institutions.

Anticipation about the signing has been escalating after Vice Premier Eric Liluan Chu said last Friday that a breakthrough in cross-strait talks on the financial MOU would come “in the next couple of days.”

Chu's statement drove up the Taiwan bourse by more than 100 points in the first half of that day's trading session.

To prevent another possible technical snag concerning the location for the signing of the document, Wu said an exchange of letters would be a “more preferable” way for the two sides of the Taiwan Strait to seal the deal.

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