Beijing sees joint energy venture with Manila as a ‘model’ for resolving South China Sea disputes
The project was the preferable alternative to unilateral action which would have damaged both sides, according to Chinese foreign minister Wang Yi
China is hoping a joint energy project with the Philippines in the South China Sea can be a model for other countries that have maritime disputes with the Asian giant, but the venture still may face many hurdles.
Speaking in Manila Tuesday, Chinese foreign minister Wang Yi said he supported the idea of a joint venture with the Philippines because unilateral action would have damaged both sides. Philippine President Rodrigo Duterte, a day earlier, had said a partner had been found for oil field development and exploration and that exploitation would restart this year but did not identify the partner.
Wu Shicun, who heads the government-affiliated National Institute of South China Sea Studies, said the joint project with the Philippines will serve as a model for other South China Sea claimants.
“Given that the disputes cannot be solved in a short time, I believe many countries can copy this method and achieve a win-win result with China,” he told the South China Morning Post.