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Philippines, Vietnam sign trade and South China Sea security deals
FILE PHOTO: Philippine President Ferdinand Marcos Jr. delivers a joint statement during the visit of Indonesian President Joko Widodo at the Malacanang Palace, in Manila, Philippines, January 10, 2024. Ezra Acayan/Pool via REUTERS/File Photo
Vietnam and the Philippines have announced their commitment to enhancing collaboration between their coastguards and preventing incidents in the South China Sea during President Ferdinand Marcos Jr.’s state visit to Hanoi. The Southeast Asian nations, with conflicting claims in the disputed waters, signed memoranda of understanding addressing “incident prevention in the South China Sea” and fostering “maritime cooperation” among their coastguards.
These agreements, potentially leading to compromises on contested claims, may raise concerns in Beijing, known for approaching resolutions of border disputes among claimants with skepticism.
The maritime cooperation deal seeks to establish a comprehensive partnership, focusing on capacity building, training, personnel exchange, and joint operations to enhance the capabilities of both Coast Guards. President Marcos emphasized the importance of addressing South China Sea issues through peaceful dialogue while defending sovereignty.
Acknowledging the challenges, Marcos declared Vietnam as the Philippines’ sole strategic partner in Southeast Asia, with maritime cooperation forming the foundation of their relationship.
The visit, aimed at strengthening bilateral relations, included agreements on rice trade and agriculture cooperation between Vietnam, a major rice exporter, and the Philippines, a top rice importer.
Marcos met Vietnamese leaders, highlighting the evolving regional situation and the need for closer cooperation. Despite not meeting Communist Party chief Nguyen Phu Trong, Marcos held discussions with other political leaders and business figures.
The visit also saw the announcement of VinFast, Vietnam’s electric car unit, expanding its business network into the Philippines, with potential collaboration on battery production leveraging the Philippines’ reserves of cobalt, copper, and nickel. Both countries aspire to increase bilateral trade from $7 billion to $10 billion.
