Maritime Boundary
Dispute are increasing and more importance which is given on the maritime
boundary by the states. There are so many technological advancements which has
come in the twenty-first century from which the states will be able to exploit
more marine resources.
There are many disputes
of maritime boundaries which are not resolved for decades. So, if there are
many unresolved boundary dispute may affect the economic activity, such as
exploitation and exploration work of the resources.
The states has a choice
to choose the method of dispute settlement but if the states wants the problem
to be settled fast and in less time it is better to get into the agreements and
negotiate. It is the best method to resolve the maritime boundary dispute.
Otherwise if the parties to dispute go for ITLOS, ICJ, or Arbitral Tribunal, it
may take years together to solve the dispute. The dispute will not be settled
for a prolonged period of time. Which in turn affects the parties only. So, to
avoid the negative impacts the dispute should be solved as fast as possible.
The parties to the maritime dispute should settle the dispute peacefully to
live with each other with harmony.