the first tangible steps towards resolving their overlapping maritime
claims in the South China Sea.The two countries have agreed to conduct an
exchange of letters ceremony soon to resolve the dispute.
An exchange of letters is a form of understanding between disputing
parties to move forward and decide some kind of mechanism towards
resolving any conflict.
The ceremony will be held in Bandar Seri Begawan as soon
as Prime Minister Datuk Seri Abdullah Ahmad Badawi gets
the Cabinet's green light on the proposals to resolve the
problem. Yesterday after his bilateral meeting with the
Sultan of Brunei Sultan Hassanal Bolkiah, Abdullah said both
leaders had agreed that any issue relating to territorial claims
must be resolved. “We felt that whatever we have agreed on
be included in the exchange of letters which will be signed as
soon as possible in Bandar Seri Begawan.
But we are also prepared to host the event.
“However, I have already informed the Sultan that any specific
suggestions on the matter will have to be tabled to the Cabinet
for consideration and approval,” Abdullah added. The dispute
surfaced in 2003 when Malaysia and Brunei awarded production-
sharing contracts to four overlapping deepwater exploration blocks
in the South China Sea, close to where a 440
million-barrel discovery had been made the year before.
Petronas awarded its two blocks to US oil firm Murphy Oil while
Brunei awarded one of its blocks to France's Total, BHP Billiton
and Hess Corp and the other to Shell, Mitsubishi and ConocoPhillips.
Following the dispute, both countries agreed to stop drilling activities
in the area. The leaders yesterday also discussed the free travel card
(FTC) launched last year to provide movement convenience for citizens
on both sides of the border. “We hope to improve it even more as it
has benefited the people a lot,” Abdullah said. He said the Sultan
expressed an interest to invest in Malaysia, especially in the development
corridors. “I hope the Sultan will consider investing in Iskandar Malaysia,”
he said, adding that the Sultan would be given a special briefing on the
project and also taken on a site tour today. He added that both countries
agreed to increase economic cooperation and that the Sultan expressed
interest in cooperating in trade and investment, especially in Sabah and
Sarawak.Source From The Star Online
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