Aggressive China up in Manila-Hanoi talks

From Malaya Business Insight (Oct 21): Aggressive China up in Manila-Hanoi talks

FOREIGN Affairs Secretary Albert del Rosario and Vietnamese Deputy Prime Minister Pham Binh Minh will meet in Hanoi Wednesday to forge closer ties amid the aggressive moves of China in pressing their claim on the disputed South China Sea.

Del Rosario said he will meet Minh, who is also Minister of Foreign Affairs, during the Ministerial Meeting of the 8th Philippines-Vietnam Joint Commission for Bilateral Cooperation where they will discuss various issues, including security and maritime cooperation.

He said other areas of cooperation that would be discussed include political, economic, defense and agriculture.

“The meeting is an opportunity to discuss developments in our bilateral relations which have expanded significantly and strengthened and diversified through cooperative activities,” Del Rosario said in a statement.

“As both maritime nations with rapidly developing economies, the future of the Philippines and Vietnam are closely linked and it is natural that the bilateral relations of both countries should strengthen and intensify,” he added.

At present, economic relations between Manila and Hanoi are limited with two-way trade amounting to $2.6 billion in 2013 with the two countries setting a modest target to raise it to $3 billion by 2016.

Investment by Philippine companies in Vietnam is at a modest $290 million, while Vietnamese investment in the Philippines is negligible.

The Ministerial Meeting was preceded by a Seniors Official’s Meeting held last month also in Hanoi, Vietnam.

The Philippines and Vietnam are in the process of finalizing a strategic partnership, which was agreed upon by both President Aquino and Vietnamese President Tan Sang in 2014 during their meeting on the sidelines of the 26th APEC Summit.

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