AMN/ WEB DESK
Philippines on Saturday denied a Chinese claim that the two countries had reached an agreement over an escalating maritime dispute in the South China Sea. In a statement Philippine Defence Secretary, Gilberto Teodoro said there was no internal agreement signed with China. However, China’s embassy in Manila did not immediately respond to these allegations. Earlier this month, a spokesperson at China’s embassy in Manila said that the two had agreed to a new model in managing tensions in the South China Sea. China claims almost the entire South China Sea, a conduit for more than 3 US trillion dollars in annual ship commerce. Its claims overlap with those of the Philippines and four other nations. In 2016, the Permanent Court of Arbitration in The Hague said China’s claims had no legal basis, a decision Beijing rejects.