China is ready to resume oil and gas talks with the Philippines and handle maritime issues in a friendly and consultative manner, China President Xi Jinping told President Marcos on Wednesday, Chinese state television reported. | FMangosingINQ /PDI
In response to Xi’s statement, Marcos said: “I really hope — I would very much like, as you have suggested, Mr. President — to be able to announce that we are continuing negotiations and that we hope that these negotiations will bear fruit. Because the pressure upon not only China, not only the Philippines but the rest of the world to move away from the traditional fronts of power.”
“Our relationship extends to commerce, culture, education, investment, in trade and in every level,” Marcos noted. Total trade between China and the Philippines stood at $29.1 billion from January to September 2022, with exports amounting to $8.1 billion and imports at $21 billion, according to Malacañang.“We feel that we must strengthen those ties and we must strengthen the cooperation we have at every level,” Marcos said.
“We just decided that we will try to emphasize where we have common interests, where we have a lot of cooperation. We will leverage on that goodwill and we will leverage on all that political, diplomatic capital,” he said. China claims nearly all of the South China Sea, including parts of the West Philippine Sea, along with its potential offshore oil and gas deposits and traditional fishing grounds.
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