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New Zealand has reaffirmed its position on the validity of the 2016 arbitral ruling rendered by the United Nations-backed Permanent Court of Arbitration that invalidated the nine-dash-line massive claims of China over the South China Sea and instead upheld the West Philippine Sea as part of the country’s exclusive economic zone.
“The two leaders reaffirmed that all parties must fully implement the 2002 Declaration on the Conduct of Parties in the South China Sea, and reiterated their support for ASEAN-led efforts for the early conclusion of an effective and substantive Code of Conduct for the South China Sea that upholds the legitimate rights and interests of all parties and is consistent with UNCLOS,” President Marcos and New Zealand Prime Minister Christopher Luxon declared on Thursday.
They also committed to sign by 2024 the Mutual Logistics Supporting Agreement , which will provide a solid framework for both parties’ defense organizations to enhance interoperability. Marcos and the Luxon said they were determined to increase the economic growth of their countries when they met Thursday, April 19.
The Philippines has a 361.94 million US Dollars trade deficit with New Zealand, according to the Presidential Communications Office. In 2021, New Zealand was ranked the 34th source of approved investments in the manufacturing and wholesale and retail trade industry.
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