Philippines, Muslim Rebels Agree on Peace Settlement Framework - Bloomberg [dayinformations.blogspot.com]

Philippines, Muslim Rebels Agree on Peace Settlement Framework - Bloomberg [dayinformations.blogspot.com]

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Philippine President Benigno Aquino said his government has reached a “framework” agreement with Muslim rebels to end a decades-long insurgency that has stunted growth in the nation’s south.

A new “political entity” called “Bangsamoro” will take the place of the autonomous region in Mindanao, Aquino said, calling the previous setup a “failed experiment.” The agreement will see the addition of six towns and several villages to the five provinces of the region and also provide for the disarmament of rebel fighters, he said.

“This framework agreement paves the way for a final, enduring peace in Mindanao,” Aquino told reporters in Manila today, flanked by his entire cabinet. The “cycle of violence” in the region has killed more than 100,000 people, he said.

While Philippine economic growth is accelerating, the insurgency has frustrated efforts by companies including Xstrata and Sumitomo Metal Mining Co. to tap an estimated $ 312 billion in mineral deposits and damaged Aquino’s efforts to further boost foreign investment, surveys show. Death squads that human- rights groups have linked to police and the military, contract killings over land disputes, and al-Qaeda-affiliated terrorists add to the mix of violence.

“Mindanao holds tremendous opportunity for investors,” Rommel Banlaoi, executive director of the Philippine Institute for Peace, Violence, and Terrorism Research in Manila said by telephone. The framework agreement shows that the peace process is moving forward, “but more work needs to be done” before negotiators arrive at a final settlement, he said.

“The tougher job will be how to come up with a final agreement,” Banlaoi said. Aquino and Malaysian Prime Minister Najib Razak will witness the signing of the framework agreement in Manila on Oct. 15, Aquino’s peace adviser Teresita Deles told reporters today.

With assistance from Clarissa Batino in Manila. Editors: Rina Chandran, Jim McDonald

To contact the reporter on this story: Joel Guinto at jguinto1@bloomberg.net

To contact the editor responsible for this story: Jim McDonald at jmcdonald8@bloomberg.net

Find More Philippines, Muslim Rebels Agree on Peace Settlement Framework - Bloomberg Issues

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