The Philippine Investors' Roadshow, a two-day event, kicks off in Beijing on September 27, 2023. Photo: Li Hao/GT

China and the Philippines have so much that both sides can agree on that will benefit both countries, and certain differences should not be allowed to affect that, a special envoy of the president of the Philippines told the Global Times in an exclusive interview on Wednesday, the first such remarks by a person close to the president after the recent reemergence of tension between China and the Philippines in the South China Sea.

The remarks came as the situation concerning Huangyan Island in the South China Sea has suddenly intensified over the removal of what the Philippines claimed is a "floating barrier" deployed by China. The action by the Philippines has cast a shadow of concern over bilateral relations.

Speaking at the Philippine Investors' Roadshow, a two-day trade and investment promotional event in Beijing on Wednesday, Special Envoy of the President of the Philippines to China for Trade, Investment and Tourism Maynard S. Ngu said that China has been such an important trading partner that cooperation should be further strengthened and disputes and disagreements should be resolved.

"I think there's always an issue, but at the end of the day, we can resolve all these issues. There are always misunderstandings, but we can still sit and talk over every misunderstanding… China has been a trading partner of the Philippines for at least 1,000 years, even before the Spanish came," Ngu said, adding that he doesn't see any issues or misunderstandings that cannot be resolved.

Wednesday's event is a follow-up for promotional trade and investment between the two countries started since the state visit of Philippine President Ferdinand Romualdez Marcos Jr. to China earlier in 2023, with both sides underscoring the importance of maintaining the good momentum of bilateral relations.

In addressing the event through a recorded video, the president noted the importance for strengthening trade and investment with China and that the two countries are highly complementary, while also welcoming more Chinese investors to do business with the country.

China has been the Philippines' largest trading partner for seven consecutive years. In 2022, bilateral trade volume reached $87.73 billion, according to data released by China's General Administration of Customs. China firmly ranks as the Philippines' largest trading partner, largest source of imports, and third largest export destination.

Currently, more than 35 percent of the total imports of the Philippines come from China, and China is also one of the largest markets for the Philippines, according to Ngu.

Given what has been achieved so far, Ngu said that the two countries should continue and strengthen their economic, trade, cultural and developmental engagements and exchanges.

"Both China and the Philippines have so much that both can agree on that will benefit the two countries, and we should not allow one or two differences to affect that, as we continue to mutually respect each other's beliefs or positions while mutually seeking peaceful and diplomatic means of settling whatever disputes or disagreements our countries' may have at this time," the special envoy said, referring to the issue in the South China Sea.

The situation near Huangyan Island in the South China Sea suddenly intensified recently as the Philippines said it had removed a "floating barrier" China deployed near Huangyan Island, a claim questioned by experts who on Tuesday said that such hype does not fit the national interests of the Philippines, but that of the US.

At the regular press conference on Wednesday, spokesperson of the Chinese Ministry of Foreign Affairs Wang Wenbin reiterated, in responding to a foreign media question over the recent issue, that Huangyan Island is China's inherent territory and the Philippines' so-called actions are purely a farce for its own entertainment.

"China will continue to firmly safeguard the territorial sovereignty and maritime rights and interests of Huangyan Island," Wang said.

In addressing the issue in the South China Sea, Philippine Senator Francis Chiz Escudero told the Global Times on Wednesday that the South China Sea issue is "the elephant in the room that needs to be addressed and set aside at the same time."

In further elaborating on his remarks, Escudero said, "We have so many things in common. We have so many things we can work on and cooperate on. And we should not let one difference affect that."

Escudero said that while this South China Sea issue has its complexity and challenges, "I firmly believe that dialogue and cooperation are essential to finding common ground and fostering mutually beneficial relations."

By collaborating in various sectors such as trade, investment, and innovation, the two nations can create mutually beneficial opportunities for business on both sides, Escudero said, adding that such partnerships create job opportunities, economic stability and ultimately improve the living standards for the people.

"Our differences should not be allowed to dictate our relations - that's our common ground, the things that we see eye to eye on should be the ones that dictate our relations. That has always been my position. And I believe that's also the position of our government as a whole," the senator said.