THE HAGUE/SANTIAGO (Reu-ters) – The maritime border between Chile and Peru was reset by an international court yesterday, in a compromise decision that politicians hope will end one of Latin America’s last remaining border disputes.
The Hague-based International Court of Justice awarded more than half of a disputed 38,000-square-kilometre patch of ocean to Peru, but Chile retained the bulk of the valuable coastal fishing grounds within that area.
Both countries have pledged to abide by the ruling, which should in the long term improve ties between the two fast-growing economies, whose bilateral trade totalled $3 billion last year and is rising fast.
Settling a dispute that had its roots in the 1880s’ War of the Pacific, presiding judge Peter Tomka said the court would leave it to the two countries to mark their maritime borders precisely. “The court expects that the parties will determine these coordinates … in the spirit of good neighbourliness,” he said.
The maritime border between the neighbouring countries will be set by a straight line extending 80 nautical miles west from the point where their land borders meet and then heading southwest.
While Chile will have to cede territory in the deeper Pacific Ocean, it retains the most valuable fishing grounds. The entire disputed area was estimated to be worth around $200 million a year in marine resources, but over half of that is an anchovy fishing area within 10 miles of shore. A fishing industry source in Peru said the anchovy fishing would be unchanged by the verdict, although Peruvian fisherman would now be able to fish some deeper water species worth up to $40 million annually.
Of broader interest are the growing investments and trade between two of South America’s most dynamic economies. Hopes are high that the dispute can be put to rest and the bilateral relationship put on a firmer footing.
