The signing of the Asian Infrastructure Investment Bank (AIIB) agreement marks a new era of great developments, said Pakistan's former Prime Minister Shaukat Aziz lately.
This is a historical moment and marks an important milestone for the China-led multilateral institution, Aziz said in an exclusive interview with Xinhuanet on the sideline of World Credit Rating Forum held in Beijing.
Representatives of the 57 prospective founding countries of the AIIB gathered in Beijing for the signing ceremony in the Great Hall of the People.
Shaukat Aziz hails it as a major achievement for China to propose the idea and said the AIIB will provide new opportunities for cooperation, collaboration and connectivity.
The world is undergoing great changes and great developments, Aziz said, adding, "I am encouraged with what is going forward and I am also encouraged by the role China is playing in entering certain areas like global finance, infrastructure finance and creating new institutions."
In terms of the bank structure, Aziz suggested by saying "we must have professional management selected by merit."
The management must be given space to act under clear policies created by the board, but the board cannot be involved in macro managing and influencing the management, Aziz stressed.
"I am hoping that the AIIB will come out with a new structure," Aziz said.
