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Is China threatening Philippine trade? Palace thinks not

Publication Date : 12-06-2014

 

The Philippine government dismissed insinuations that China was touting its economic prowess as a warning to  trade partners and territorial rivals.

“That doesn’t mean that just because China is investing in this country,  (it should) stop us from asserting or filing an arbitration case against them when it comes to our EEZ (exclusive economic zone),” Presidential Spokesperson Edwin Lacierda said.

Chinese Ambassador Zhao Jianhua’s message at the Filipino-Chinese Friendship Day celebration at Manila Hotel on Tuesday evening was seen as a positive sign of continuing civil relations between Beijing and Manila.

During his speech, however, he mentioned the high levels of trade and investment that China has with the Philippines.

“China is the third largest trading partner of the Philippines…And in the first quarter of this year, the two-way trade of our two countries reached $12.5 billion, which increased by 14.6 per cent on a yearly basis,” Zhao said.

But Lacierda pointed out that there were “different levels of exchange” between the two countries, which they might still pursue amid the territorial row.
“With respect to South China Sea, we have made a stand. Let’s resort to arbitration. This cannot be done in any other way,” he said.

The spokesperson also said the Philippines was continuing to draw support from strategic partners and the rest of the international community.

In addition to trade, Zhao expressed hope that the “difficulties” faced by the two countries are just temporary, especially compared to their “thousand-year-old friendship and extensive cooperation.”

“The Chinese government has always attached great importance to its  relationship  with the Philippines, and I believe that we have  the  wisdom,  the  patience and  the  courage to settle the disputes through negotiations and consultations,” he said.

For his part, Lacierda said he welcomed China’s supposed “change of tone.”

He, however, pointed out that the would still have to wait for the statement of the foreign ministry of the People’s Republic of China, which had been active in responding to Philippines actions on the territorial disputes.


 

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