World Media

Asean, Beijing to endorse framework for South China Sea disputes

Asean, Beijing to endorse framework for South China Sea disputes

South-east Asia's foreign ministers are set to endorse on Sunday the framework of a code of conduct (COC) meant to prevent conflicting territorial claims in the South China Sea from erupting into violent confrontations. They will be joined by their counterparts from Korea, Japan, United States, Canada and other countries considered as Asean dialogue partners.

"The framework basically presents an outline of the Code of Conduct. We expect that the foreign ministers will endorse the framework as it is now approved by the senior ministers last May, to endorse it during the meeting on Aug 6 in Manila", said Philippines' Foreign Affairs spokesman Robespierre Bolivar at a news briefing yesterday. "So after it is endorsed, after the approvals process has been done, dealt with, we expect that the talks on the actual Code of Conduct will begin in earnest", Bolivar said, adding ASEAN and China had committed to approve the framework under chairmanship of the Philippines this year.

Bolivar, however, could not give an assurance that the Philippines will insist on having Manila's arbitration victory against Beijing's maritime claims used as one of the bases in the crafting of the code.

Lockheed Martin Corporation (NYSE:LMT) Reviewed By Analysts
The institutional investors in our partner's database reported: 228.20 million shares, down from 229.64 million shares in 2016Q3. In related news, SVP Maryanne Lavan sold 10,000 shares of the company's stock in a transaction dated Thursday, July 20th.

After ministerial endorsement, the framework will be further elevated to the countries' leaders, who are due to meet in November.

The Philippines and three other ASEAN partners - Brunei, Malaysia and Vietnam - are fighting alongside Taiwan and China for the sovereignty of several islands in the South China Sea, a strategic maritime area abundant in natural resources, which Beijing claims nearly in its entirety.

The Department of Foreign Affairs (DFA) on Tuesday said the Philippines will push for its interests when it negotiates a binding code of conduct in the South China Sea with its regional neighbors, including major sea claimant China.

Doklam Upshot: India closes China gates for Gland Pharma
It had recommended the Rs 8,800 crore foreign investment proposal of Gland Pharma Ltd to the CCEA for approval. The biggest fear among India's military planners is that a Chinese offensive there could cut off the link.

Bolivar said the code of conduct should reflect the common interests of all parties involved.

"I was also informed that all over the Philippines, the different local government units will be celebrating the 50th ASEAN Anniversary with us and I think it will be later explained by the DFA that there will be a blowing of horns all over the Philippines", Ablan said during the briefing.

Back-to-school tax-free weekend starts Friday
According to the Ohio Dept. of Taxation, clothing is considered all human wearing apparel suitable for general use. Any clothing or footwear item under $100 other than non-everyday athletic gear is also exempt from sales tax.