On Tuesday, 12 of the 15 Philippine justices voided the Joint Marine Seismic Undertaking agreement by the national oil companies of three countries, which are among other Asian states embroiled in long-running territorial disputes in the resource-rich waters.
In its ruling, the Supreme Court said the 2005 pact, signed under then-President Gloria Macapagal Arroyo, violated the Constitution for allowing wholly-owned foreign corporations to explore the country’s natural resources. "China remains committed to properly handle maritime disputes in the South China Sea with countries directly concerned, including the Philippines, through dialogue and consultation, and to actively explore ways for practical maritime cooperation including joint exploration," Wang said in a briefing in Beijing on Wednesday.
Mga walanghiya!
China's Foreign Ministry spokesperson Wang Wenbin called the 2005 tripartite deal 'an important step by the three countries' and 'a useful experiment for maritime cooperation between parties to the South China Sea.' READ:
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SC voids old South China Sea energy dealThe Supreme Court on Tuesday declared the country’s 2005 energy exploration agreement with Chinese and Vietnamese firms was illegal, ruling the constitution does not allow foreign entities to exploit natural resources
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