China still keen on exploration talks with Philippines — envoy - BusinessWorld Online

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China still keen on exploration talks with Philippines — envoy - BusinessWorld Online
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China is still committed to pursue joint oil exploration activities in the South China Sea with the Philippines and other claimant states, a Chinese envoy said on Thursday, after the Philippine Supreme Court voided a similar deal inked in 2005. READ:

“China remains committed to properly handle maritime disputes in the South China Sea with countries directly concerned, including the Philippines, through dialogue and consultation,” Wang Wenbin, spokesman of China’s Ministry of Foreign Affairs, said in a statement.

But Mr. Wang said the exploration deal is an “important step” for the three countries to enforce a 2002 declaration signed by Southeast Asian nations and China on the conduct of parties in the South China Sea, adding that it is“It played an important role in promoting stability, cooperation and development in the region.”

“Cases decided by the Supreme Court form part of our legal system, and the department is duty-bound to take applicable cases into consideration in any future discussion with China on oil and gas,” it added. “It will be utterly foolish of this administration to proceed with this initiative in any other way or manner other than what the Supreme Court has laid out in this decision,” he added.In the statement, Mr. Wang noted that during President Ferdinand R. Marcos’ visit to Beijing last week, both sides agreed to “bear in mind the spirit” of the 2018 memo and “resume discussions on oil and gas development at an early date, building upon the outcomes of the previous talks.

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