Investing
Malaysia says it will protect its rights in South China Sea
© Reuters. FILE PHOTO: Malaysian Prime Minister Anwar Ibrahim attends a wreath-laying ceremony at Rizal Park, in Manila, Philippines, March 2, 2023. REUTERS/Lisa Marie David
KUALA LUMPUR (Reuters) – Malaysia said on Saturday it was firmly committed to protecting its sovereign rights and interests in the South China Sea after China expressed concern about Malaysian energy projects in a part of the sea that China also claims.
Malaysian Prime Minister Anwar Ibrahim said on Tuesday China was worried about activity by the state energy firm Petronas in a part of the South China Sea that Malaysia says is its territory.
Anwar said he was open to negotiations with China, drawing criticism from the opposition, which said Anwar was risking Malaysia’s sovereignty.
The foreign ministry said in a Saturday statement Anwar’s comment meant Malaysia would like all issues related to the South China Sea to be resolved in a peaceful manner and without compromising Malaysia’s position.
“The government of Malaysia is unequivocally and firmly committed to protecting Malaysia’s sovereignty, sovereign rights and interests in its maritime areas in the South China Sea,” the ministry said.
China claims sovereignty over almost the entire South China Sea, through which about $3 trillion worth of ship-borne trade passes annually. Malaysia, Brunei, the Philippines, Taiwan and Vietnam have some overlapping claims.
Petronas operates oil and gas fields within Malaysia’s exclusive economic zone (EEZ) and has in recent years had several encounters with Chinese vessels.
China stakes its claim with a reference to a “nine-dash line” on its maps, which loops as far as 1,500 km south of its mainland, cutting into the EEZs of Vietnam, the Philippines, Malaysia, Brunei and Indonesia.
The Permanent Court of Arbitration, however, ruled in 2016 that the nine-dash line has no legal basis.
Anwar said this week Petronas would continue its activities in the South China Sea.
Read the full article here
-
Side Hustles5 days ago
3 Steps You Can’t Miss When Growing Your Business
-
Make Money7 days ago
15 Jobs That Will Shrink the Fastest Over the Next Decade
-
Side Hustles6 days ago
How to Maximize Your Profits With This Annual 8-Step Checklist
-
Passive Income6 days ago
Why Email Marketing Is Still Your Business’s Most Powerful Tool
-
Side Hustles6 days ago
Want to Start a Business? Consider Buying One Instead — Here’s Why.
-
Investing7 days ago
Netherlands stocks lower at close of trade; AEX down 0.80% By Investing.com
-
Investing6 days ago
Germany stocks lower at close of trade; DAX down 0.65% By Investing.com
-
Investing5 days ago
How I Transformed My Business by Letting Go of Low-Value Tasks