Cayetano also tried to reassure Southeast Asian neighbors that the Philippines would consult them about the joint exploration for oil in the heavily disputed South China Sea. Mr. Duterte did not name the partner but on Tuesday, Chinese Foreign Minister Wang Yi, who was visiting Manila, said China was open to the idea of a joint venture with the Philippines for oil exploration in the South China Sea. Exploratory talksMr. Duterte has played down the ruling in favor of billions of dollars in trade and investment from China. Cayetano told reporters on Wednesday that negotiations for a joint venture were going on, but he declined to give details. Cayetano said the Philippines would also consult its Asean neighbors about the proposed joint venture.

Source: Philippine Daily Inquirer July 26, 2017 19:30 UTC