RP, China agree to settle dispute

RP, China agree to settle dispute

CHINA: The Philippines said on Wednesday that a dispute with China over the Spratly Islands in the South China Sea has been settled and the two sides will work together to exploit the region's oil deposits.

"Disputes and conflicts are all over now," visiting Foreign Secretary Alberto Romulo was quoted as saying by the Xinhua news agency.

"The South China Sea, instead of a regional flash point, has been transformed into an area of cooperation, peace and development."

China, the Philippines, Brunei, Malaysia, Taiwan and Vietnam claim in whole or in part the oil-rich Spratly chain of islands and atolls in the South China Sea.

All the claimants, except Brunei, have troops stationed in the area and there have been deadly clashes in the past.

The most serious incident occurred in 1988 when Chinese and Vietnamese naval forces clashed at Johnson Reef, resulting in the deaths of 78 Vietnamese navy personnel.

Last year China and the Philippines agreed to carry out a joint study of the mineral reserves in the area, sparking concern from the other claimants. --AFP