The Philippines is open to discussing a fisheries agreement with its neighboring countries after resolving its diplomatic row with Taiwan triggered by the fatal shooting of a Taiwanese fisherman in disputed waters earlier this month.

President Benigno Aquino III said he wants closure first on issues surrounding the Taiwanese fisherman’s death before dealing with any fisheries agreement.

“After we finish this issue, we will talk to every neighbor that we have on having a peaceful and prosperous relationship,” Aquino told reporters after a Philippine Navy event here.

The President added that he has already tasked appropriate agencies to study the possibility of a fisheries deal with neighboring countries while protecting Philippines’ national patrimony.

Taiwan imposed sanctions against the Philippines on Wednesday last week, rejecting as unacceptable a Philippine apology for the killing of a fisherman from Taiwan on May 9.

The row is the latest flare-up in tension in Asian seas where disputes in various places between various countries have raised fears of conflict in the economically vibrant region where competition for resources is intensifying.

The sanctions included the freezing of applications for work permits, the cessation of economic exchanges and military exercises in waters between the two sides.

Taiwan recalled its envoy to the Philippines.

A spokesman for Philippine President Benigno Aquino had said a formal apology was being offered to the “appropriate authority” in Taiwan over the “unfortunate loss” of the fisherman.

A report on Taiwan’s Central News Agency said President Ma Ying-jeou earlier convened a high-ranking meeting, and decided on four demands from the Philippines, including:

– the issuance of a formal apology;
– compensation for the losses;
– punishing the perpetrators of the killing, and
– open fishery agreement talks between the Philippines and Taiwan soonest.

There are currently 80,000 Filipinos working in Taiwan.

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