AIRLINK 196.21 Increased By ▲ 2.65 (1.37%)
BOP 10.07 Increased By ▲ 0.12 (1.21%)
CNERGY 7.85 Decreased By ▼ -0.08 (-1.01%)
FCCL 40.14 Decreased By ▼ -0.51 (-1.25%)
FFL 17.03 Increased By ▲ 0.17 (1.01%)
FLYNG 27.30 Decreased By ▼ -0.45 (-1.62%)
HUBC 133.60 Increased By ▲ 1.02 (0.77%)
HUMNL 14.15 Increased By ▲ 0.26 (1.87%)
KEL 4.67 Increased By ▲ 0.07 (1.52%)
KOSM 6.66 Increased By ▲ 0.04 (0.6%)
MLCF 47.15 Decreased By ▼ -0.45 (-0.95%)
OGDC 215.40 Increased By ▲ 1.49 (0.7%)
PACE 6.98 Increased By ▲ 0.05 (0.72%)
PAEL 41.87 Increased By ▲ 0.63 (1.53%)
PIAHCLA 17.20 Increased By ▲ 0.05 (0.29%)
PIBTL 8.53 Increased By ▲ 0.12 (1.43%)
POWER 9.67 Increased By ▲ 0.03 (0.31%)
PPL 184.41 Increased By ▲ 2.06 (1.13%)
PRL 42.90 Increased By ▲ 0.94 (2.24%)
PTC 25.15 Increased By ▲ 0.25 (1%)
SEARL 109.50 Increased By ▲ 2.66 (2.49%)
SILK 1.01 Increased By ▲ 0.02 (2.02%)
SSGC 44.11 Increased By ▲ 4.01 (10%)
SYM 17.84 Increased By ▲ 0.37 (2.12%)
TELE 8.98 Increased By ▲ 0.14 (1.58%)
TPLP 13.00 Increased By ▲ 0.25 (1.96%)
TRG 67.50 Increased By ▲ 0.55 (0.82%)
WAVESAPP 11.64 Increased By ▲ 0.31 (2.74%)
WTL 1.82 Increased By ▲ 0.03 (1.68%)
YOUW 3.98 Decreased By ▼ -0.09 (-2.21%)
BR100 12,223 Increased By 178.5 (1.48%)
BR30 36,950 Increased By 370.2 (1.01%)
KSE100 115,356 Increased By 1318.2 (1.16%)
KSE30 36,289 Increased By 494.2 (1.38%)

China and the Philippines are discussing joint mineral exploration in the South China Sea despite an ongoing territorial conflict over the strategic waterway, Manila's foreign secretary said Friday. The two countries, long embroiled in a dispute over their competing claims to the area, are hoping talks will open the door for them to jointly tap its resources, Secretary Alan Peter Cayetano said. "We are pushing it aggressively because we need it," Cayetano told reporters, adding the countries would each form a working group to explore options for joint exploration.
"Then we will find a framework under our constitution that will allow us... joint exploration," he said. "We both want it." The South China Sea is a major trading route and fishing ground believed to have vast mineral resources, and is also claimed by Brunei, Malaysia, Taiwan and Vietnam.
Beijing asserts sovereignty over almost all of the area but in 2016 a UN-backed tribunal acting on a case brought by then-Philippine leader Benigno Aquino rejected its claims. Current president Rodrigo Duterte, who took office in mid-2016, has since alarmed defence analysts and lawyers by down-playing the Philippine claim and largely setting aside the ruling so as to accommodate China - which is promising military and economic aid.
But on Friday Cayetano said the Philippines would consult with "international legal experts" to make sure any accord would not hurt Philippine sovereign rights. "Whatever we do, it will not only (be) in accordance with Philippine law but also the UNCLOS," referring to the UN Convention on the Law of the Sea.

Copyright Agence France-Presse, 2018

Comments

Comments are closed.