Chinese President Xi Jinping said “there is great potential for cooperation” between both nations. Read more at straitstimes.com.
BEIJING/MANILA - China rolled out the red carpet for Philippine President Ferdinand Marcos Jr on Wednesday with the signing of an agreement to mitigate rising tensions in the South China Sea and pledges to boost trade, investment, tourism, agricultural and clean energy cooperation.
Mr Xi also declared that “there is great potential for cooperation”, and offered to restart negotiations on oil and gas joint exploration in the South China Sea and cooperate in photovoltaic, wind energy and new energy vehicles. Mr Xi recalled that Chairman Mao Zedong and Mr Marcos’ late father, who was the 10th president of the Philippines, jointly made the “historic” decision to establish diplomatic relations in June 1975, one year after then First Lady Imelda Marcos’s landmark visit to China with the incumbent president, then 17.
It was the second meeting between the two presidents, who first met on the sidelines of the Asia-Pacific Economic Cooperation summit in Thailand in November. Mr Marcos, who on Tuesday said he would be “opening a new chapter” in the Philippines’ comprehensive strategic cooperation with China, had also vowed to “work towards shifting the trajectory of our relations to a higher gear”.
China and the United States have been embroiled in a diplomatic tug of war to win over the Philippines, which is China’s largest trading partner but has a defence treaty with its former colonial master, the US.
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