Full coverage: The South China Sea Issue

Philippine President Rodrigo Duterte says his country has more to gain if it is able to settle its South China Sea dispute with China. He cited a plan to establish industrial zones all over the country in order to attract Chinese investment.

Meanwhile, Philippine media reported that former president Fidel Ramos has accepted Duterte's offer to become a special envoy to China. He will help kickstart bilateral talks over strained relations between the two countries.

88-year-old Ramos served as the Philippine president from 1992 to 1998. During his administration, the Philippines developed good relations with China.