Philippines’ Marcos Confident on Economic Cooperation with China, Despite Rows
Marcos said the Philippines and China can still work together on energy supplies and joint exploration as disputes continue to stall talks.
- On Friday, Philippine President Ferdinand Marcos Jr. told the Foreign Correspondents Association of the Philippines that joint oil and gas exploration talks with China have "moved forward," though no definite timeline exists for the potential venture.
- Amidst energy supply disruptions from Middle East conflicts this year, the Philippines seeks to tap offshore gas deposits like the Reed Bank to bolster national energy security, necessitating cooperation with Beijing.
- Despite recent confrontations in the South China Sea, including clashes at the Second Thomas Shoal, Marcos noted the nations maintain economic ties, asserting "I don't think that's in any policy" that the country is distancing from China.
- Negotiators are currently defining terms of reference for the joint venture, with Marcos highlighting that "all parties involved want it to succeed," a positive indicator for progress on the arrangement.
- More than $3 trillion in trade passes annually through the South China Sea, a strategic waterway where Beijing claims sovereignty despite a 2016 arbitration ruling that invalidated those claims.
14 Articles
14 Articles
Philippine president says joint oil and gas exploration with China a ...
Marcos Says Energy Exploration Talks With China Moving Forward
Marcos: ‘Possible’ joint exploration with China before term ends
MANILA, Philippines – President Ferdinand Marcos Jr. said Friday, August 14, it was “possible” for joint oil and gas exploration in the West Philippine Sea to begin between the Philippines and China before his term ends in 2028. “Certainly. The Philippines needs additional supplies of oil and gas, and we need to explore the possibilities that we have in the Philippines, in the West Philippine Sea, and wherever else we can [that] we can take adva…
Navigating Tensions: Energy Cooperation Between the Philippines and China
Philippine President Ferdinand Marcos Jr expressed optimism about economic cooperation with China, despite maritime disputes. He highlighted ongoing collaboration, particularly in energy exploration. While tensions exist in the South China Sea, notably involving the Reed Bank and Second Thomas Shoal, efforts to mutually benefit from energy resources persist.
Joint oil, gas exploration with China, 'making progress'
President Marcos bared that the discussions on joint oil and gas exploration with China have "moved forward" and are "making progress."Stressing the urgent need to diversify the country's oil sources amid the Middle East crisis, Marcos said the country needs to explore its options and take advantage of them.When asked about the status of the discussions, Marcos said "we're making progress."He further said they are working through the joint explo…
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