vietnam and philippines reach agreements on security concerns in the south china sea
Published on: January 31, 2024.
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Vietnam and the Philippines Strengthen Cooperation in the South China Sea
Vietnam and the Philippines have announced plans to bolster cooperation and prevent conflicts in the South China Sea. The announcement was made during a state visit to Hanoi by President Ferdinand Marcos Jr. The South China Sea is a critical trade route, with approximately $3 trillion of annual ship-borne trade passing through it. Both countries have competing claims over certain parts of the sea, an area that China claims almost entirely. The agreements on security include measures to prevent incidents in the South China Sea and enhance maritime cooperation between the coastguards of Vietnam and the Philippines. These agreements could potentially strain the already tense relations between the claimants and China, which has shown skepticism towards resolving border disputes. However, both Vietnam and the Philippines remain committed to defending their sovereignty while seeking peaceful dialogue with China. The two countries also signed agreements covering rice trade and agriculture cooperation, as the Philippines is a significant importer of rice, and Vietnam is one of the world’s top rice exporters. Additionally, discussions included plans to increase bilateral trade to $10 billion.
President Marcos highlighted Vietnam’s strategic importance to the Philippines in Southeast Asia and emphasized the importance of maritime cooperation in strengthening their relationship. Vietnamese Prime Minister Pham Minh Chinh emphasized the need for closer cooperation amid evolving regional and global challenges, stating that Marcos’ visit has helped boost bilateral relations.
While in Hanoi, President Marcos met with Vietnamese political leaders and the head of Vietnam’s largest conglomerate, Vingroup. The Philippines’ electric car unit, VinFast, announced plans to establish a business network in the Philippines, with possibilities for battery production using the country’s cobalt and nickel reserves. These developments aim to strengthen economic ties and promote further collaboration between the two countries.
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