The Philippines has welcomed the adoption of a treaty that will place 30 percent of the world's oceans into protected areas, allot more money into marine conservation and cover access to and use of the world's marine genetic resources.

Department of Foreign Affairs (DFA) Secretary Enrique Manalo made the pronouncement after the 1st international treaty on the conservation and sustainable use of Marine Biodiversity of Areas Beyond National Jurisdiction was reached by United Nations delegates in what the bloc described as a "historic agreement."

Also referred to as the "High Seas Treaty," Manalo said the agreement has proved "once again the importance of multilateralism in finding common ground amid competing interests."

"This international legally binding agreement will provide holistic and equitable management of human activities impacting ocean life beyond national boundaries to safeguard global ocean health and contribute to climate resilience, increased food security for millions of people," he added.

The Philippines welcomed the development as during the rounds of negotiations that spanned a decade, Manalo said the country "consistently underlined the principle of common heritage of humankind."

The country also stressed the "importance of giving due regard to the rights and jurisdiction of adjacent coastal states and archipelagic states, which are heavily dependent on the sea," he added.