Philippines' Marcos confident on economic cooperation with China, despite rows

Philippine President Ferdinand Marcos Jr. voiced optimism about deepening economic ties with China, even as territorial disputes in the South China Sea continue to strain relations. Speaking to foreign journalists in Manila, Marcos emphasized that cooperation remains a key aspect of the bilateral relationship.

"I don't think that's in any policy, in any policy statement, that we are distancing ourselves from China," Marcos stated. He pointed to China's position as one of the Philippines' largest investors and cited instances of collaboration, including during recent Middle East conflicts when China contributed to energy supplies.

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I don't think that's in any policy, in any policy statement, that we are distancing ourselves from China.

Tensions have flared recently due to multiple confrontations in the South China Sea. These include incidents involving Chinese coast guard personnel at the disputed Second Thomas Shoal and a water-cannon event near Scarborough Shoal. Beijing has also imposed sanctions on the Philippine defense minister.

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We are continuing to find many, many instances where we are very much in cooperation with China. China is one of the biggest investors still in the Philippines.

Despite these challenges, Marcos sees potential for collaboration, particularly in joint energy exploration. He noted the presence of offshore gas deposits, such as those at Reed Bank within the Philippine exclusive economic zone. While past talks on joint exploration have faltered due to disagreements over sovereign rights, Marcos believes progress is being made.

"We have to find new ways... this discussion has gained prominence. And where we are now, I think we have moved forward," he said, sensing a shared desire among all parties for the exploration to succeed. Beijing claims sovereignty over most of the South China Sea, a vital trade route, despite a 2016 international arbitration ruling against its claims. Marcos also clarified that there are no special arrangements with Beijing that compromise Philippine rights or require permission for resupply missions in the contested waters.

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We have to find new ways... this discussion has gained prominence. And where we are now, I think we have moved forward.