MANILA – China has indicated it is open to restarting negotiations with the Philippines on potential joint oil and gas projects in the South China Sea, describing the initiative as a “right path” to fostering peace and stability in the region.
The Chinese Embassy in Manila stated Wednesday evening that “putting aside differences and pursuing joint development is the right approach to maintain peace and stability in the South China Sea while benefiting nations and their citizens.”
The embassy recalled past in-depth discussions between the two countries regarding oil and gas development, noting the progress made during previous talks.
“As long as the Philippine side approaches the dialogue sincerely, China remains ready for cooperation,” the statement said.
The talks had previously stalled in 2022, with then-Foreign Affairs Secretary Teodoro Locsin Jr. citing constitutional limits as the reason the Philippines halted negotiations after three years of engagement.
President Ferdinand R. Marcos Jr. recently suggested that the current global oil crisis, intensified by the conflict in the Middle East, could act as an incentive to revive the stalled discussions. “This could provide the momentum needed for both nations to reach an understanding despite territorial disputes,” he told Bloomberg News.
Foreign Affairs Secretary Ma. Theresa Lazaro added that while no official directive has been issued yet, a decision regarding the oil talks may be forthcoming.
ia/xf
