NextGen Day

Following the bilateral summit between Presidents Ferdinand R. Marcos Jr. and Xi Jinping on January 4, the governments of the Philippines and China have decided to resume discussions on oil and gas exploration in the South China Sea at an “early date.”

The Department of Foreign Affairs and the Chinese Foreign Ministry said in a joint statement that the conversations will build on the results of the previous negotiations under the Duterte administration, “with a view to benefiting the two nations and their peoples.”

The statement said that regarding oil and gas cooperation, “both sides agreed to take into consideration the spirit of the Memorandum of Understanding on Cooperation on Oil and Gas Development between the Governments of the People’s Republic of China and the Government of the Republic of Philippines signed in 2018 and agreed to resume discussions on oil and gas development at an early date.”

The two parties also decided to look into potential areas of cooperation, including nuclear energy for the production of electricity, electric vehicles, solar energy, and wind energy.

During the administration of former President Rodrigo Duterte, discussions on potential oil and gas exploitation in the South China Sea were put on hold due to constitutional restrictions.

Both parties eventually conducted an “initial discussion” in July and August for the potential restart of negotiations after numerous demands from China.

The general public is given the assurance that any deal reached during the negotiations will be “in conformity with the Philippine Constitution”.

According to the 1987 Constitution, the Philippine government should have “complete control and supervision” over the exploration, development, and use of natural resources.

“Not the total,”

In the meantime, Marcos and Xi stressed that maritime matters “do not form the sum total of relations” between Manila and Beijing and resolved to appropriately manage the South China Sea dispute through peaceful methods.

Both parties reiterated the significance of upholding and fostering regional peace and stability as well as the freedom of overflight over the South China Sea.

According to the joint statement, the two leaders also “reached consensus on the peaceful resolution of conflicts” based on the United Nations Charter, the 1982 United Nations Convention on the Law of the Sea, and the Declaration on the Conduct of Parties in the South China Sea.

As both parties agreed to work closely together on the mitigation of marine waste and microplastics and towards the formation of a collaboration between coastal model towns of the two nations, stronger maritime cooperation between Manila and Beijing is also anticipated.

At the summit, Marcos and Xi agreed to work together “as close neighbors, relatives, and partners that aid and understand each other toward win-win results” to further develop the China-Philippines relationship of Comprehensive Strategic Cooperation in light of the new circumstances.

Save/Share this story with QR CODE

---

Disclaimer

This article is for informational purposes only and does not constitute endorsement of any specific technologies or methodologies and financial advice or endorsement of any specific products or services.

📩 Need to get in touch?

📩 Feel free to Contact NextGenDay.com for comments, suggestions, reviews, or anything else.

---

We appreciate your reading. 😊Simple Ways To Say Thanks & Support Us:
1.) ❤️GIVE A TIP. Send a small donation thru Paypal😊❤️
Your DONATION will be used to fund and maintain NEXTGENDAY.com
Subscribers in the Philippines can make donations to mobile number 0917 906 3081, thru GCash.
3.) 🛒 BUY or SIGN UP to our AFFILIATE PARTNERS.
4.) 👍 Give this news article a THUMBS UP, and Leave a Comment (at Least Five Words).

---

AFFILIATE PARTNERS

World Class Nutritional Supplements - Buy Highest Quality Products, Purest Most Healthy Ingredients, Direct to your Door! Up to 90% OFF.
Join LiveGood Today - A company created to satisfy the world's most demanding leaders and entrepreneurs, with the best compensation plan today.

---