The two countries, long embroiled in a dispute over their competing claims to the area, are hoping talks will open the door for them to jointly tap its resources, Secretary Alan Peter Cayetano said.
"We are pushing it aggressively because we need it," Cayetano told reporters, adding the countries would each form a working group to explore options for joint exploration.
"Then we will find a framework under our constitution that will allow us... joint exploration," he said.
The South China Sea is a major trading route and fishing ground believed to have vast mineral resources, and is also claimed by Brunei, Malaysia, Taiwan and Vietnam.
Beijing asserts sovereignty over almost all of the area but in 2016 a UN-backed tribunal acting on a case brought by then-Philippine leader Benigno Aquino rejected its claims.
Current president Rodrigo Duterte, who took office in mid-2016, has since alarmed defence analysts and lawyers by down-playing the Philippine claim and largely setting aside the ruling so as to accomodate China -- which is promising military and economic aid.
"Whatever we do, it will not only (be) in accordance with Philippine law but also the UNCLOS," referring to the UN Convention on the Law of the Sea.
He stressed the talks would only cover exploration, not actual development.
"Right now, we have not (been) discussing developments. We are discussing exploration first. Whats the use of the debate whether or not the constitution allows a joint development if we dont know if there is anything we can harvest," he said.
However, an opposition group challenged the tripartite deals legality in the Supreme Court in 2008 and a decision is still pending.
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