Vice President Binay wants joint venture with China to develop West Philippine Sea

Vice President Jejomar Binay believes that Philippines should engage economic giant China into a bilateral talks to resolve maritime dispute in West Philippine Sea. “May pera po ang China, kailangan po natin ng kapital,” Binay said in an interview with radio station in Catarman, Northern Samar.

Rappler.com reports, Vice President Binay “called for a ‘joint venture’ between the Philippines and China in developing the natural resources in the South China Sea, parts of which the Philippines calls the West Philippine Sea.”

However, for Foreign Affairs Secretary Albert del Rosario Philippines and China have already reached dead end. “We are for bilateral talks, but we ran into a dead end in terms of using that approach,” Del Rosario said in an interview with ABS-CBN News Channel.

“In the case of Scarborough Shoal, we had over 50 bilateral engagements with them and that did not work,” del Rosario said. He noted that in every bilateral meeting, China was saying “We have indisputable sovereignty over the entire South China Sea.”