A 130 year-long maritime border dispute between Chile and Peru appears to have been resolved by the International Court of Justice in the Hague.
The dispute dates from the 1880’s War of the Pacific and centres on 38,000 square-kilometres of coastal fishing grounds.
The compromise formula from the Hague sees Peru getting the larger cut, but Chile retaining superior fishing grounds.
Both countries have pledged to abide by the ruling, which should improve ties between two of the region’s fastest growing economies.
The entire disputed area is worth around 150 million euros a year in marine resources. Half of that is lucrative anchovy fishing within 15 kilometres of the shore.