If the ongoing tension between China and Philippine over the West Philippine Sea does not end soon, then Manila is at risk of losing $6 billion in exports, according to the Philippines' Trade and Industry Secretary, Ramon Lopez.

Lopez made the remarks on Friday during the appropriations committee hearing over the Department of Trade and Industry's proposed P4.776B ($254m) 2017 budget.

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He was answering a question raised by Magdalo Representative Gary Alejano on whether the tension would affect the two country's trade relationship with China.

According to the Trade and Industry Secretary, the value of exports to China stands at a minimum of P119.89B ($6.39b) while imports from China stands at P202.65B ($10.8b).

He added that the major exports were electronics, ore, and concentrates while imports included semiconductors, parts of electrical apparatus and accessories.

 Lopez argued that cutting ties with China would damage the Philippines' economy by destroying its export value.

 "As reported earlier, the export at $6 to $8B, the implication is the employment impact on exports supplying the Chinese market. It's a huge size of exports that we cannot immediately replace if we lose our opportunity to export to China," he said.

The Philippines won a case against China at the Hague-based Permanent Court of Arbitration (PCA) and was given sovereign rights over the West Philippine Sea on Tuesday, 12 July 2016.

A statement released said that there was no legal basis for China to claim historic rights to resources in the disputed territory.

China and the Philippines are set to hold bilateral talks on the dispute despite Beijing's refusal to accept the court's ruling.

Tagschina, Philippines, Trade and Industry