Tsinoy firms cheer Marcos’ China reset

A group of Chinese Filipino businesses on Thursday welcomed President Marcos’ openness to resetting ties with China, particularly the possible revival of joint oil and gas exploration talks, as global energy risks mount.

In a statement, the Federation of Filipino Chinese Chambers of Commerce & Industry, Inc. (FFCCCII) said it was encouraged by Marcos’ remarks that the Philippines remains open to resuming discussions with Beijing, even as territorial disputes persist.

“This statement shows the President’s commitment to ensuring our country’s future and well-being,” FFCCCII president Victor Lim said, adding that Marcos’ statement “reflects a mature and pragmatic approach to statecraft.”

Marcos, in an interview with Bloomberg News, said he was open to reviving stalled negotiations with China on joint oil and gas development in the West Philippine Sea, noting that the ongoing conflict in the Middle East could spur progress.

“That’s something we’ve been talking about for a great deal, but territorial disputes are getting in the way of that,” Marcos said. “Maybe this [conflict in the Middle East] provides impetus for both sides to come to an agreement.”

Marcos likewise said that a reset in ties between Manila and Beijing “is certainly going to happen,” emphasizing that the Philippines has historically separated territorial issues from economic cooperation.

“They haven’t leveraged this in any way. Quite the contrary, they’ve been very helpful in terms of, for example, fertilizer. We import a great deal of fertilizer from China,” he said.

FFCCCII said practical cooperation in energy security could provide a “viable pathway” to ensuring stable and affordable energy supply, particularly as global oil markets face heightened volatility.

“We firmly believe that practical cooperation in energy security offers a viable pathway to securing a stable, affordable and sustainable energy future,” it said.

Looking ahead, the FFCCCII urged stakeholders to support efforts to find common ground.

“We urge all stakeholders in the country to support this pragmatic course, as the pursuit of common ground serves the highest interests of the Filipino people, the stability of the region, and the enduring vitality of our economic partnerships,” it added.