ILOILO CITY: Economic relations between the Philippines and China withstand the territorial dispute over islands in the West Philippine Sea, said Department of Finance (DOF) Undersecretary Gil Beltran.
Beltran, in a press briefing Friday during the Asia Pacific Economic Cooperation (APEC) meet here, said economic ties between the two APEC economies remain stable.
“I have not seen any problem [in our economic cooperation]despite these territorial problems we are facing,” said Beltran citing that China’s development assistance for the Philippines continues to take place.
He added that the country’s financial sector remains firm and not affected with the dispute with the giant economy.
Early this month, the Philippines has presented its arguments on the disputed territories before the Arbitral Tribunal in the Permanent Court of Arbitration in the Hague, the Netherlands.
Meanwhile, the 21 APEC economies which involved the Philippines and China concluded on Friday the workshop on infrastructure financing and capital market development to facilitate investments in infrastructure in the region.