Page 4 - AsianOil Week 26 2022

AsianOil COMMENTARY AsianOil

China seeks improved energy

relations with new Philippine

government

Beijing signalled a willingness to work with the new Philippine government

to resolve their South China Sea disputes, having recently terminated talks
on joint exploration with the previous government

POLICY A change in government in the Philippines has week that the previous government had termi-
paved the way for China to call for co-operation nated talks with China over joint energy explo-
WHAT: between the two countries on the handling of ration in the South China Sea. The two sides had
China has indicated a disputes related to the South China Sea. This previously agreed to jointly explore for oil and
willingness to work with week, Chinese Vice President Wang Qishan gas in the Philippines’ exclusive economic zone
the Philippines’ new said at the inauguration of Philippine President (EEZ) but China also claims the territory.
government to resolve Ferdinand Marcos Jr. that the Philippines are a It was not clear when the talks were termi-
their South China Sea priority for Chinese diplomacy. nated by the previous government, but the Phil-
disputes. “The Chinese side has always placed the Phil- ippines’ outgoing Foreign Minister, Teodoro
ippines as a priority in its neighbouring diplo- Locsin, said Manila had gone as far as it was
WHY: macy, and looks forward to working with the constitutionally possible to go on the issue.
A new government has new Philippine government to carry forward “Three years on and we had not achieved our
taken power in the friendship, enhance mutual trust and continue objective of developing oil and gas resources so
Philippines, paving the co-operation, so as to usher in a new ‘golden critical for the Philippines – but not at the price
way for potential renewed era’ for China-Philippines relations,” Wang was of sovereignty; not even a particle of it,” Locsin
co-operation. quoted by Chinese state news agency Xinhua said in a speech in late June.
as saying. The two countries should “adhere Since then, Beijing has wasted no time in
WHAT NEXT: to the proper handling of disputes and jointly indicating its willingness to co-operate with the
New Philippine President safeguard the peace and tranquillity of the South new Marcos government on the issue. However,
Ferdinand Marcos Jr. China Sea”, he added. Marcos has also vowed that his government
has said his government This came after it had emerged the previous would not compromise on issues of sovereignty,
will not compromise on
issues of sovereignty.

Ferdinand Marcos Jr.
has been sworn in as
the new President of
the Philippines.

P4 www. NEWSBASE .com Week 26 01•July•2022