(VNA/VOVworld) – The Philippine government and the Moro Islamic Liberation Front (MILF) have finally reached a peace deal after numerous rounds of negotiation, according to Philippine President Benigno Aquino.

Philippine President during his speech on national relevision (Photo: Internet)

The deal has sparked a hope of ending a 40-year conflict which has killed 150,000 citizens and crippled the economy of the Southern region. Under the deal, people of the new political entity “Bangsamoro” will establish a Law and a Government, and Moro rebels will end their operations here and gradually transfer power to local policemen. The deal will take effect following official approval through a referendum.