Inquirer/ Asia News Network
The Philippines and Indonesia will start the official recognition of the boundaries that demarcate the two countries’ overlapping exclusive economic zones (EEZs) after an agreement that was formally signed by the two archipelagic states in May 2014 in Manila entered into force.
In a statement, the Department of Foreign Affairs (DFA) said the agreement entered into force after Foreign Affairs Secretary Teodoro Locsin Jr. and Indonesian Foreign Minister Retno Marsudi signed the Protocols of Exchange of the instruments of ratification concerning the delimitation of the countries’ EEZs.
The special ceremony took place on the sidelines of the 52nd ASEAN Foreign Ministers Meeting on Thursday in Bangkok, Thailand.
According to the DFA, the treaty would economically and politically benefit both countries “by promoting more bilateral cooperation in the EEZ in order to advance the common interest of managing and preserving the resources in the EEZ.”
It would also “further strengthening maritime security cooperation between the two countries,” the DFA added.