TAIPEI, Taiwan – Despite heightened tensions arising from recent military drills of the Chinese armed forces at the Taiwan Strait, it’s business as usual in this nation of 23.9 million people, including more than 150,000 overseas Filipino workers (OFWs). Most of the OFWs are concentrated in northern Taiwan, particularly the Greater Taipei Area consisting of three special municipalities: Taipei, the capital; Keelung, the country’s major port; and New Taipei City, Taiwan’s largest city in terms of population. Ambassador Silvestre Bello III, chairman and resident representative of the Taipei-based Manila Economic and Cultural Office (MECO), denied that there were massive layoffs here among OFWs due to the recent security threat. He said the Philippine government has developed contingency plans for OFWs should a real conflict arise. In the absence of official diplomatic relations between our two economies, MECO serves as the Philippines’ de facto embassy in Taiwan. A research study conducted by the Royal Institute of International Affairs (RIIA), an independent policy institute with headquarters in London, found that China’s approach to dispute settlement has been evolving over the past decades. “In the field of international investment law, China is increasingly prepared to subject disputes to international arbitration. Where issues of sovereignty are concerned, its strong preference is for political or diplomatic approaches,” the RIAA disclosed. This brings to mind a dispute back home between two Filipino-owned companies, Petron Corp. and Republic Gas Corp. (Regasco), which are both engaged in the liquefied petroleum gas (LPG) business. In 2002 and 2004, Petron filed a total of five cases against Regasco directors Arnel Ty and his wife Marie Antoinette Ty regarding their alleged violation of certain provisions in Republic Act (RA) 8293, otherwise known as the Intellectual Property Code of the Philippines. Two of the cases were dismissed while the other three dragged on for many years. In the meantime, Arnel Ty served three terms in Congress as partylist representative of the LPG Marketers Association (LPGMA), of which he was the founder. During his legislative stint, Congressman Ty authored several bills seeking to regulate the LPG sector. In 2021, the Senate and House of Representatives finally enacted RA 11592 or the LPG Industry Regulation Act into law. As of 2022, the three cases remained active. Yet there were some incidents that led to the prosecution and the accused agreeing with each other while seemingly forgetting about their dispute – until Petron filed a manifestation with the Malabon regional trial court stating its lack of interest in pursuing the cases further. Petron's conciliatory move provided an opening for its partnership with Regasco toward a vibrant collaboration in the LPG industry. Along with other market players, they worked together in explaining the importance of RA 11592 to LPG business owners and the general public. However, since the judicial court needed to show the two sides that the cases must be resolved, it released a decision last February 22, 2023 acquitting the Tys in those three cases. Now all is well between the principal owners of Petron and Regasco after deciding to let bygones be bygones and instead forget their long-time court battle. As a result, they have become strong partners in pursuit of safer business and consumer practices to energize the LPG industry. If China and Taiwan could only emulate this amicable manner of dispute resolution, then the geopolitical tensions in the Asia Pacific region will be greatly reduced. It is heartening to note that during bilateral talks in Beijing last week, top Chinese diplomat Wang Yi told German Foreign Minister Annalena Baerbock that he “hopes and believes Germany will support China’s peaceful reunification with Taiwan” – with emphasis on “peaceful.” Hopefully this would lead to a more harmonious coexistence in our part of the world. J. Albert Gamboa is a Life Member of the Financial Executives Institute of the Philippines (FINEX) and Vice-Chair of the FINEX Ethics Committee. The opinion expressed herein does not necessarily reflect the views of these institutions and the Manila Bulletin. #FinexPhils  [www.finex.org.ph](http://www.finex.org.ph)