The foreign ministry held a reception on Tuesday to mark the signing of the Taiwan-Philippines fisheries agreement. The agreement was formally signed in early November but was not made public due to the APEC summit that was being held in the Philippines at the time.
Foreign Minister David Lin said the fisheries issue between Taiwan and the Philippines has always been a sticky matter. Lin said the agreement would not only protect each other’s fishing rights but also restore cooperation and friendship between the two countries.
"I'm convinced that through our newly formed consultation mechanism and restored mutual trust, we will reach even more appropriate arrangements on maritime issues between the two countries in the future," said Lin.
Manila Economic and Cultural Office Chairman Amadeo R. Perez, Jr. said the agreement will help solve fishing disputes in the overlapping waters of both sides.
"Moving forward, this agreement will provide the needed stability and a stepping stone for both of us towards the forging of common efforts for the exploration, conservation, and management of marine resources for the mutual benefits of both our people," said Perez.
Perez said the agreement is a milestone in bilateral relations.