Ensuring Taiwan's presence in the territorial dispute over the Senkaku Islands between Japan and China, its President Ma Ying-jeou has proposed a five-point peace initiative that includes cooperation in exploring and developing the vast resources in the East China Sea.
Addressing a meeting in capital Taipei on Sunday, he said dispute over Senkaku Islands was the most serious issue in Northeast Asia. Floating the proposal at the meeting, Ma claimed Taiwan's sovereignty also over the islands, media reports said.
But he said he hoped that all countries concerned would sink their differences and establish a mechanism for cooperating to explore and develop resources in the East China Sea.
Ma called on all sides to seriously face the possible impact the territorial dispute could have on peace and security in the East China Sea. He proposed the five-pronged East China Sea peace initiative for the relevant parties to peacefully resolve the dispute. His proposal also includes seeking consensus on a code of conduct in the East China Sea and jointly developing resources in the area.
Ma comes out with his proposals amid heightened tension between China and Japan over the Senkakus whose seabeds are believed to have vast hydrocarbon reserves. China has recently increased naval presence around the islands which Japan claims its own.
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