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Tag: Reed Bank Joint exploration

The trade off: multi-billion dollar projects in exchange for Chinese exploration in PH EEZ

Foreign Secretary Alan Peter Cayetano and Chinese Foreign Minister Wang Yi July 25,2017. DFA photo.

From the fragmented information about the resumption of talks on joint exploration with China in the disputed parts of the Spratlys, what is emerging is a repeat of jumbo loans that the administration of Gloria Arroyo obtained from the Chinese government in 2004 in exchange for agreeing to allow China to explore within the country’s economic exclusive zone.

In his State-of-the Nation address last Monday, the issue about West Philippine Sea was mentioned sort of in passing. “The West Philippine Sea issue and federalism are matters that we have to tackle sooner or later,” Duterte said.

Reporters followed it up in his post-SONA press conference. Duterte added more information:

“When they start to excavate the gas and all. I tell you, it’s going to be just like a joint venture. Para pareho. (So it’s equal). “