The Philippine Supreme Court has ruled that a joint oil exploration agreement signed with China and others in the South China Sea was unconstitutional.
Regarding joint exploration, President Marcos just this month indicated his intention to continue talks to resume negotiations with China, which may affect future talks.
The Philippines, China, and Vietnam signed an agreement in 2005 for joint oil exploration in the waters surrounding the Spratly Islands, known in English as the Spratly Islands in the South China Sea. I called.
The agreement expired in 2008, but some Philippine opposition lawmakers had taken to court to say it was unconstitutional because it dominated their country's exclusive economic zone.
Regarding this lawsuit, the Philippine Supreme Court ruled on the 10th that the constitution did not allow foreign capital to explore the Philippines' natural resources, and ruled that the agreement was unconstitutional. .
Regarding joint resource exploration in the South China Sea, this month, President Xi Jinping of China announced, "We will resume negotiations for the development of oil and natural gas and promote cooperation in areas where there is no conflict." He had just indicated his intention to continue discussions toward resuming negotiations.
The ruling will restrict the Philippines from joint exploration in what it claims to be its exclusive economic zone, which could affect future talks with China.