Philippine Foreign Minister Teodoro Locsin has announced that he has terminated the ongoing talks with China on the exploration of joint oil and gas resources in his exclusive economic zone in the South China Sea.
While the Chinese side claims jurisdiction over the South China Sea, it cites the possibility that joint development could undermine the sovereignty of the Philippines.
While the Philippines is vying with China for sovereignty over the South China Sea, President Duterte has taken a proactive stance on resource development and signed a memorandum of understanding with President Xi Jinping on joint oil and gas exploration in 2018.
After that, China proposed joint development in the exclusive economic zone of the Philippines, provided that it shelved the judgment of the international arbitral tribunal that denied the jurisdiction of the South China Sea that it claimed, and the two countries concretely. We have been discussing how to do it.
Under these circumstances, Foreign Minister Rodrigo Locsin made a speech in Manila on the 23rd, saying, "We have made efforts for three years to conclude an agreement, but the discussion between oil and gas has been completely terminated." It was revealed that it was discontinued.
Regarding the reason, Foreign Minister Teodoro Locsin said that the joint development could damage the sovereignty of the Philippines. "We could not achieve the purpose, but we did not sacrifice the sovereignty. I want you to protect it, "he said, and asked the Marcos administration, which will be launched on the 30th of this month, not to give in to China due to sovereignty issues.