China, Philippines agree to handle disputes ‘peacefully’, boost cooperation
CHINA and the Philippines have agreed to set up a direct communications channel between their foreign ministries to handle disputes over the South China Sea “peacefully”.
The two countries inked 14 agreements aimed at cooling security tensions and boosting cooperation. This was announced in a joint statement on Thursday (Jan 5), after Philippine President Ferdinand Marcos Jr met Chinese President Xi Jinping in Beijing the day before.
Marcos’ three-day visit to Beijing came as China emerged from a self-imposed shutdown after the pandemic started.
Both sides have been seeking to mend ties that were hurt after the Philippines sought an arbitral ruling that invalidated China’s claims in the South China Sea. The Philippines also raised concerns over reported Chinese construction activities and the “swarming” of Beijing’s vessels in disputed waters of the South China Sea, an area rich in oil, gas and fishery resources.
The two leaders affirmed that their countries would respect each other’s sovereignty and territorial integrity. They also reaffirmed the importance of maintaining peace and stability, as well as freedom of navigation and overflight in the South China Sea. Both sides will hold an annual dialogue on security, the joint statement noted.
Coastguards from China and the Philippines will meet “as soon as possible” to discuss “pragmatic cooperation”.
BT in your inbox
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
The joint statement added that both sides would consider informing each other when firing rockets and cooperate on the retrieval of rocket debris. Last November, when debris from a Chinese rocket fell into the South China Sea, a Chinese coastguard ship stopped a Philippine boat from trying to tow it away.
Besides security matters, China and the Philippines agreed to resume talks on oil and gas exploration in the South China Sea. They also agreed to discuss cooperation in areas such as solar, wind and nuclear power, as well as electric vehicles.
To boost bilateral trade to meet or surpass pre-pandemic volumes, China agreed to let in more Philippine imports. Both sides also promised to boost tourist numbers and flights between both capitals to pre-pandemic levels.
The joint statement also said the two countries would cooperate on vaccine procurement. China is among the world’s top exporters of Covid-19 vaccines.
Both sides also renewed an agreement on the Belt and Road Initiative, Xi’s signature strategy on overseas infrastructure investment.
The Philippines’ press secretary said that Chinese investors had committed US$22.8 billion in investment pledges following a business meeting with Marcos. The pledges included US$13.76 billion for renewable energy, mainly in solar and wind, US$7.3 billion for strategic monitoring including electric vehicles and mineral processing, and US$1.7 billion for agribusiness.
Ahead of his return to Manila, Marcos told Chinese business executives: “I assure you that our government is committed to support your business activities in the country.” REUTERS
Share with us your feedback on BT's products and services
