'Deescalation of WPS tensions likely'

THE Asian Century Philippines Strategic Studies Institute (ACPSSI) said on Wednesday that it was highly likely for the Philippines and China to reach an accord that would ease tensions in the West Philippine Sea (WPS).

The ACPSSI issued the statement following the announcement that Manila and Beijing have agreed to jointly manage maritime issues in the disputed waters.

«If that is so, then prospects of the Philippines restoring its economic future with the engine of growth of the 21st Century (China) has been restored,» said ACPSSI President Herman Tiu Laurel during the conclusion of the forum on the Third Plenum of the Chinese Communist Party 20th Central Committee.

Laurel added that the first goal should be the revival of the Philippines-China joint gas and oil exploration in the Recto (Reed) Bank.

He said other vital China-funded infrastructure projects must be resumed, among them the Bicol Express and the 1,100-kilometer Mindanao Circumferential Railway.

Government projects using Chinese aid were terminated last year amid the escalation of tensions in the WPS.