President Ferdinand Marcos Jr. said there has already been significant progress in establishing a bilateral code of conduct between the Philippines and Vietnam concerning the South China Sea.

In his recent media interview with the Philippine media delegation, Marcos stressed the need for Southeast Asian regions to take a more proactive role in navigating the South China Sea issue.

He emphasized the importance of reaching an agreement with Vietnam, a fellow claimant with overlapping territorial claims in the region.

"We're pretty much there," President Marcos said, referring to the ongoing negotiations with Vietnam.

He highlighted a Memorandum of Understanding being developed between the two countries' coastguards, which will pave the way for joint patrols and exercises in 2024.

Marcos' initiative stems from the slow pace of negotiations on the ASEAN-China COC, which disagreements over key provisions have hampered.

He proposed a two-pronged approach: prioritizing bilateral agreements among ASEAN members while simultaneously pursuing the broader regional COC.

"If we can't complete the code of conduct with ASEAN and China, I suggested making it bilateral first among ASEAN members," explained Marcos. "This way, we won't have to worry about issues with Vietnam, Brunei, Malaysia, and so on."

When asked how the new maritime cooperation deal between Manila and Hanoi can deter Beijing’s dangerous and illegal maneuvers in the South China Sea, Marcos Jr. said: “The agreement is between Vietnam and the Philippines. What other countries do, that's not included.”

The potential agreement comes amidst heightened regional tensions, with China's assertive maritime activities raising concerns among its neighbors.

Both the Philippines and Vietnam share overlapping territorial claims in the South China Sea, facing challenges from China's expansive claims and assertive actions.

Marcos also said that both the Philippines and Vietnam have successfully resolved tensions through peaceful means over the past few years.

"We don't have any confrontations with Vietnam despite the conflict in our territorial waters, but it has never gone beyond diplomatic contacts, it hasn't escalated into trouble," Marcos said.

Their bilateral agreement could serve as a model for similar arrangements among other ASEAN members, presenting a united front against China's dominance.

A bilateral code of conduct could also establish clear guidelines for behavior and communication, potentially reducing the risk of incidents and promoting peaceful resolution of disputes.

Vietnam holds the position of the Philippines' exclusive strategic partner in Southeast Asia. Throughout the years, both nations have effectively utilized a hotline connecting senior Filipino and Vietnamese officials to manage maritime disputes. In addition, these two countries, united in their opposition to China's expansionist agenda, have engaged in joint patrols and training activities in the South China Sea.