Vietnam and Philippines Finalize Agreements on South China Sea Security and Rice
Published on: January 30, 2024.
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Vietnam and the Philippines have reached agreements on both South China Sea security and rice trade. During a state visit by President Ferdinand Marcos Jr., the two Southeast Asian nations agreed to enhance cooperation between their coastguards to prevent untoward incidents in the disputed South China Sea. This move could potentially antagonize Beijing, as China claims most of the South China Sea and has deployed its coastguard fleet to enforce its territorial claims. Vietnam and the Philippines have previously had clashes with China’s coastguard, and tensions have escalated between vessels from China and the Philippines, a US ally.
In addition to security cooperation, Vietnam and the Philippines have also made a deal regarding rice trade. Vietnam, one of the world’s leading rice exporters, will have a five-year agreement with the Philippines, a major rice importer, to cover rice trade. This agreement will strengthen the already significant rice trade between the two countries.
Vietnam’s Ministry of Trade has not disclosed the details of the security agreement, but it is aimed at maintaining stability and preventing any incidents that could escalate tensions in the South China Sea. The rice trade agreement, on the other hand, will further solidify the economic ties between Vietnam and the Philippines.
The South China Sea is a crucial waterway for global trade, with approximately $3 trillion of ship-borne trade passing through it annually. The region is also a hotbed of territorial disputes, with several countries, including Vietnam and the Philippines, having overlapping claims with China. These agreements will help these countries navigate the challenges presented by the complex geopolitics of the South China Sea while ensuring the smooth flow of trade and cooperation.
Source: [Dunya News](https://dunyanews.tv)
