Manila: The Philippine government, through the Department of Foreign Affairs (DFA), on Wednesday welcomed with 'cautious optimism' the planned negotiations between the United States and Iran, and hoped for an eventual peace deal. Iran and the US formally agreed to a two-week ceasefire, with talks to negotiate a peace agreement set to begin in Pakistan on Friday.

According to Philippines News Agency, the DFA expressed hope that the dialogue would 'lead to the permanent end of the conflict and lasting peace.' The conflict has resulted in significant loss of lives and damage to civilian and economic infrastructure, as well as disruptions in the global economy.

The joint military operations mounted by Israel and the United States against Iran on February 28, which resulted in the death of Iran's Supreme Leader Ayatollah Ali Khamenei, prompted Iran to launch deadly retaliatory strikes that later stretched to neighboring Gulf states. This escalation led Tehran to impose a de facto blockade on the Strait of Hormuz, causing a shock in energy markets. The rising oil and fuel prices have compelled governments to implement various austerity measures.

The Philippines continues to hope that all parties will resolve their differences through earnest dialogue and diplomacy.