MANILA – The Philippine and Chinese governments signed 29 deals on Tuesday, including a memorandum of understanding (MOU) regarding cooperation on oil and gas exploration in the West Philippines Sea.
The deals, which cover the fields of trade and investment, banking and finance, infrastructure, agriculture, education, culture, and people-to-people exchanges, were signed during the state visit of Chinese President Xi Jinping.
Among the deals signed, the most awaited was the joint exploration deal in the disputed sea, after it was reported that the Chinese government had prepared the draft framework agreement.
Department of Foreign Affairs secretary Teodoro Locsin Jr. and Chinese Foreign Minister Wang Yi signed and exchanged copies of the MOU on cooperation on oil and gas development during a simple ceremony at the Malacañang on Tuesday evening.
“The deal was meant to find a solution on how we can enjoy the resources in the South China Sea,” said Department of Energy secretary Alfonso Cusi in a statement on Wednesday.
Other signed deals include: cooperation on the Belt and Road Initiative; executive program of cultural agreement for 2019-2023; basic education cooperation; information and communication technology; strengthening the building of agricultural cooperatives; infrastructure cooperation program; industrial parks development; certificate of emergency humanitarian cash assistance; promoting cooperation in key infrastructure projects in Davao region; and, certificate of humanitarian cash assistance.
President Rodrigo Duterte and Xi also witnessed the exchange of the implementation agreement for the feasibility study of the Davao City Expressway project; feasibility study for Panay-Guimaras-Negros bridges project; memorandum of on Renminbi clearing arrangement; protocol for phytosanitary requirement for export of fresh young coconuts from the Philippines to China; protocol of sanitary and phytosanitary requirements for export of frozen fruits from the Philippines to China; economic and technical cooperation.
Other agreements and projects also include the MOU on supporting feasibility study of nature projects between Department of Finance and China International Development Cooperation Agency; project of container inspection equipment; Davao River Project; China’s aid bridge and road project in Marawi; MOU on Panda bonds issuance; loan agreement of New Centennial Water Source-Kaliwa Dam project; commercial contract of Safe Philippines Project Phase I; commercial contract for the New Centennial Water Source Kaliwa Dam Project; framework agreement for industrial park in Clark; contract for the project management consultancy of the Philippine National Railway’s Long Haul North-South railway project; letter of no objection to the organization of Reminbi-Philippine Peso foreign exchange trading market; and, certificate to authority to operate for Industrial and Commercial Bank Limited-Manila branch.
“With mutual respect, sincerity, and adherence to sovereign equality, I will continue to work closely with President Xi to deepen the relationship between our great countries so we may together secure a peaceful and prosperous future for both our peoples and for the entire region,” Duterte said./PN
