vietnam philippines agreements on South China Sea security and rice security
Published on: January 30, 2024.
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Vietnam and the Philippines Enhance Cooperation to Safeguard South China Sea
In a state visit to Hanoi by President Ferdinand Marcos Jr., Vietnam and the Philippines have come to an agreement to strengthen cooperation among their coastguards in order to prevent any untoward incidents in the South China Sea. Both countries have overlapping claims in certain parts of the South China Sea, which serves as a crucial waterway for approximately $3 trillion in annual ship-borne trade. China, on the other hand, asserts complete ownership over the entire area.
During a formal ceremony at the presidential palace in Vietnam, two memoranda of understanding on security were signed. These agreements aim to establish protocols for incident prevention in the South China Sea and promote maritime cooperation between the coastguards of both countries. Although specific details of the agreements were not disclosed, it is believed that such developments might not sit well with China, which has deployed its extensive fleet of coastguard vessels to secure its expansive territorial claims in the South China Sea.
Over the past year, tensions have been on the rise between China and the Philippines, a key ally of the United States. Incidents involving vessels from both countries have become increasingly frequent, further straining their already deteriorating relations. Prior to meeting President Vo Van Thuong of Vietnam, President Marcos stressed that Vietnam is the Philippines’ “sole strategic partner” in Southeast Asia and emphasized that maritime cooperation serves as the foundation of their partnership.
Aside from security cooperation, Vietnam and the Philippines, both playing significant roles in the global rice trade, have also sealed agreements covering rice trade and agriculture cooperation. Vietnam, being one of the largest rice exporters in the world, will work closely with the Philippines, a major importer of rice.
During his two-day visit to Hanoi, President Marcos is scheduled to hold meetings with various Vietnamese leaders. However, it is worth noting that the Communist Party chief, Nguyen Phu Trong, will not be present, marking his third consecutive absence from meetings with visiting leaders this month. Despite concerns about his health, Trong did attend a parliament session in mid-January, somewhat alleviating worries.
In addition to political discussions, President Marcos also met with Pham Nhat Vuong, the head of Vingroup, Vietnam’s largest conglomerate. It was announced that Vingroup’s electric car unit, VinFast, will establish a business network in the Philippines. This move aims to explore the Philippines’ potential in battery production for electric vehicles, given its rich reserves of cobalt, copper, and nickel.
In conclusion, Vietnam and the Philippines are working towards stronger cooperation to safeguard the South China Sea and address disputes in the region. Additionally, they are expanding their collaboration in the fields of rice trade, agriculture, and economic development. These efforts are crucial for maintaining stability and promoting mutual benefits in the region.
Source: [Devdiscourse](https://www.devdiscourse.com)
