China, Vietnam call for settlement of maritime disputes

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China's State Councilor and Foreign Minister Wang Yi (L) chats with Vietnam's Deputy Prime Minister and Foreign Minister Pham Binh Minh. Reuters

HANOI (Reuters) – Chinese Foreign Minister Wang Yi said on Sunday that China and Vietnam should settle their disputes in the South China Sea through talks and move to jointly exploit its waters. China claims 90 percent of the potentially energy-rich maritime territory and has been building on and militarising rocky outcrops and reefs in the waters. Brunei, Malaysia, the Philippines, Taiwan and Vietnam also lay claim to parts of it, through which about $5 trillion of trade passes each year. China said bilateral relations with Vietnam had seen positive developments as the two neighbours further opened up markets to each other.

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