(Manila Comprehensive) The Supreme Court of the Philippines ruled that the agreement signed by the Philippines, Vietnam and China in 2005 violated the Constitution in the South China Sea Joint Exploration of Oil and Gas.This is a blow to President President President President Pressengus and China.
The Philippine Supreme Court ruled on Tuesday (January 10) that the agreement signed by the National Petroleum Corporation of the three countries of the Philippines, China and Vietnam, was violated in the Philippines natural resources because "the wholly foreign -owned enterprise participated in the development" of the Philippines.The agreement was signed during former Philippine President Arajoyan, which was invalidated in 2008.
The stock price of the Philippine oil and natural gas drilling operators has risen by the Philippines and China in recent months.
According to Bloomberg, the stock price of many Philippines related companies fell on Wednesday (January 11), a decline of 1.1 % to 12 %.
Chinese Ministry of Foreign Affairs spokesman Wang Wenbin pointed out at a routine press conference on Wednesday that the agreement signed by the National Petroleum Corporation of the Three Kingdoms in 2005 was an important measure for the three parties to implement the behavior of all parties in the South China Sea.The "beneficial attempt" of maritime cooperation between the country.
Wang Wenbin said that China has always been committed to being the South China Sea, including the Philippines, to properly handle the differences in the sea -related differences through dialogue and negotiation, and actively explore the pragmatic cooperation including co -development.
One week before the Supreme Court of the Philippines sentenced, Xiaomakus just met with Chinese officials in Beijing. The two sides also agreed to restart the negotiations between China Sea Oil and Gas Development.
Former Philippine Member Cassino asked the court to make a decision on the agreement. He tweeted: "This is a warning for Mr. Marcos.Terms. "
