Governor Benjamin Diokno of the Bangko Sentral ng Pilipinas (BSP) has emphasized the need of…
G7 support gives PH claims in WPS a “big boost.”
Rufus Rodriguez, a representative for Cagayan de Oro City’s 2nd district, declared on Monday that the Group of 7 (G7) support for the 2016 Permanent Court of Arbitration (PCA) decision strengthens Philippine claims in the West Philippine Sea.
“We appreciate the G7’s support, led by the United States. According to him, this will support our argument that China should uphold the judgment obtained under the Aquino administration and acknowledge our territorial sovereignty over several islets, waterways, and the riches found there.
The G7 comprises the seven most potent democracies in the world: the European Union (as a new member), the United States of America, Canada, Japan, the United Kingdom, France, Germany, and Italy.
The G7 leaders reaffirmed that the arbitral tribunal’s judgment from July 12, 2016, “is a significant milestone, which is legally binding upon the parties to those proceedings and a useful basis for peacefully resolving disputes between the parties.”
They declared, “We oppose China’s militarization activities in the region, and there is no legal basis for China’s extensive maritime claims in the South China Sea.”
The PCA decision nullifies China’s territorial claims along its nine-dash line, which essentially encompass the entire South China Sea, including the Philippines’ 200-mile Exclusive Economic Zone (EEZ).
The disputed islands, reefs, and shoals are located in the Philippines’ Exclusive Economic Zone (EEZ), which was formed by the United Nations Convention on the Law of the Sea (UNCLOS).
According to him, the G7 declaration rejects China’s expansive territorial claims as well as its ongoing occupation and militarization of several islands.
Rodriguez said Beijing (China) should stop asserting broad maritime claims in the South China Sea, which are illegal under international law.
Rodriguez reaffirmed his demand that the Marcos administration begins exploring Recto Bank or Reed Bank off the coast of Palawan, which is inside the nation’s EEZ.
Although the service contract for the Malampaya natural gas project, located in Palawan, has been extended up to 2039, he claimed that it is anticipated that it will continue to produce natural gas until 2024.
If there are leftover resources, that’s good. The Reed Bank project, however, needs to get underway because it is believed to contain significantly more natural gas and oil reserves than Malampaya.
He said the administration shouldn’t be held back by worrying about Beijing’s response.
We won’t be able to do any activities there. Otherwise, he continued.
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