President Rodrigo Duterte admitted on Thursday that the territorial dispute in the South China is one of the "serious problems" confronting the region.

But Duterte said they were not in a hurry to solve the problem.

"I hope that ASEAN (Association of Southeast Asian Nations) will grow strong and solve the problems of the --- the serious problems confronting us," he said in a speech during the high level forum in ASEAN @ 50 in Pasay City.

"The South China Sea is one but we are not in a hurry. And as a matter of fact, what we did was really the correct step and to avoid a confrontational talks with the almost all of the parties concerned, just ask for a limited time to solve the problem and sharing of the resources if it could be done," he said.

Southeast Asian countries like the Philippines, Brunei, Malaysia and Vietnam, as well as China and Taiwan are engaged in territorial rows over the South China Sea.

He said China, which has been claiming almost the entire South China Sea, has stood pat on its claim.

"We need not go to war for that. It’s not good to add something which is already a very high-tension existing in Asia itself. I wish more talks to come, trade," said Duterte who is the chiarman of ASEAN.

He said if there is one thing that must be immediately solved by the Southeast Asian countries is the problem of the Malacca Strait where terrorists have been victimizing people.

"The Malacca used to be historically a supply route and a shipping lane that was very good for everybody. Of late, terrorism has entered the picture and we see a lot of hijackings and killing of people, and capturing hostages for ransom," he said.

He said "drastic action for a very dangerous situation" needs to be done in this area.

"Otherwise, that part of the sea lane of trade between Australia going up north and Malaysia itself, Indonesia and the Philippines will continue to suffer the degradations of our trade and even the human being itself," he said.

"I hope to talk with the leaders of these countries and we’re willing to put our resources together with theirs to find a solution," Duterte said.

Duterte said when he talks with his ASEAN counterparts, "there is one thing that I can just offer, blast them out of the seas to keep our shipping lanes open and safe."

He said terrorists have committed enough piracy in the Malacca Strait.

"Enough money collected from ransoms, and needlessly killing people, decapitating them in front of cameras. think that has to stop," he said, citing that since the Marawi crisis is over, the Armed Forces of the Philippines could focus on that area. Celerina Monte/DMS