Tunis:President Ferdinand R. Marcos Jr. remains hopeful about finalizing a binding code of conduct (COC) in the South China Sea to reduce tensions in the contested waters. As the current chair of the Association of Southeast Asian Nations (ASEAN), Marcos highlighted the progress made in the COC negotiations during his speech at the 24th Forbes Global CEO Conference.

According to Philippines News Agency, Marcos emphasized the collective agreement among ASEAN member states on the necessity of this code to prevent conflicts and ensure freedom of navigation. He stated that maintaining peace and freedom of navigation is crucial not only for ASEAN countries but also for global interests.

ASEAN countries and China aim to conclude the COC negotiations by 2026. The COC, which has been under negotiation since 2002, aims to establish rules to mitigate maritime incidents and manage tensions. However, talks have faced delays due to disagreements about its legally binding nature, scope, and relation to the 2002 Declaration on the Code of Parties (DOC).

The DOC, a non-legally binding agreement between China and ASEAN, was signed in 2002 to promote regional peace and stability. Marcos stressed the importance of reaching a binding agreement to prevent maritime confrontations, despite frustrations over disagreements about definitions of terms.

President Marcos also addressed the Philippines' stance on referring to the contested waters as the West Philippine Sea. He asserted that the area is part of Philippine sovereign territory and lies within the country's exclusive economic zone, as per international law and the United Nations Convention on the Law of the Sea (UNCLOS). Marcos explained that using the term "WPS" is an assertion of the Philippines' claim, countering the notion that the name South China Sea implies Chinese ownership.

Marcos reiterated his commitment to defending the Philippine Constitution, which defines the country's sovereign territory, as part of his presidential duties.