China and the Philippines have signed a Memorandum of Understanding (MoU) on energy cooperation, which Philippine Energy Secretary Alfonso Cusi said Wednesday is a "positive step" to achieve common development.
It is "one step forward" towards finding a way to develop and tap the resources in the region, Cusi told Xinhua.
He hoped that this document will inspire other countries to seek energy development in the region. "Let's see and we hope that we can develop something that is good for everybody to follow."
China and the Philippines have signed the MoU on Cooperation on Oil and Gas Development and agreed to discuss maritime cooperation including maritime oil and gas exploration, sustainable use of mineral, energy and other marine resources, according to the joint statement released during the state visit by Chinese President Xi Jinping to the Southeast Asian country.
Xi's two-day visit ending Wednesday has been the first one by a Chinese head of state to the Philippines in 13 years.
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