China proposes joint oil exploration in Spratlys
China's number two leader Wu Bangguo on Sunday proposed joint oil exploration and development in the disputed Spratlys area of the South China Sea in what has been termed a breakthrough in easing tensions in a potential regional flashpoint.
Wu, the chairman of China's parliament, made the proposal during a meeting with leaders of the Philippine Congress while in Manila to attend an Asian parliamentarians' conference, Speaker Jose de Venecia told reporters Sunday.
Brunei, Malaysia, the Philippines and Vietnam, as well as China and Taiwan claim the Spratly Islands, a potentially oil-rich archipelago.
"Mr. Wu proposed a joint exploration and development program in the Spratlys" beginning with the Philippines and China and covering the other claimants as well, De Venecia said.
He was speaking at a joint media conference with Wu after the meeting, which also agreed to boost counter terrorism cooperation between Southeast Asia, China, Russia and Central Asia.
Wu described the meeting as an "in-depth exchange of views" but did not give details of his joint exploration and development plan.
De Venecia said that proposed Spratlys joint development "would lead to a diplomatic breakthrough in this area following the important statement of China earlier and the Philippines and the other ASEAN countries to agree on a common code of conduct in the South China Sea."
The 10-member Association of Southeast Asian Nations (ASEAN) last year signed a treaty with China aimed at preventing an escalation of tensions over the Spratlys.
All parties agreed to refrain from activities that would escalate tensions in the region.
The deal involved the four Southeast Asian nations and China, but excludes Taiwan.
Vietnam and China have clashed twice over the Spratlys, in 1988 and 1992, while skirmishes have also occurred between other countries, antagonizing relations while threatening to undermine regional security.
Although it is believed the archipelago sits on top of vast reserves of oil and gas, their commercial potential has never been confirmed. The islands also flank international shipping lanes.
De Venecia said the proposed joint exploration and development program would spur economic development in Southeast Asia.
"These areas are idle and we might as well let them bloom and for joint profit sharing or multiple profit sharing by all," de Venecia said.
Harry Angping, chairman of the trade and industry panel of the Philippine Congress, said it was also agreed Sunday that representatives of a major Chinese oil exploration company be sent to Manila in November to look into joint exploration efforts.
Wu and de Venecia also discussed the possibility of linking anti-terrorism coalitions in Southeast Asia and China, Russia and Central Asia.
Cambodia, Indonesia, Malaysia, the Philippines, Malaysia and Thailand have forged a counter-terrorism pact focused on sharing intelligence, resources and personnel to fight terrorism in Southeast Asia.
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should be a model to settle territorial issues bet. naitons. |
