Thailand and Cambodia signed a joint statement on Saturday agreeing to a ceasefire effective from 12:00 p.m. local time.

The statement was inked by Thai Defense Minister Natthapon Nakpanich and Cambodian Deputy Prime Minister and Defense Minister Tea Seiha during the third Special General Border Committee meeting, which was held on the Thai side of the border in Chanthaburi Province.

Speaking at a press conference after the meeting, Natthapon said the statement's key points included an agreement by both sides to maintain current troop deployments without further movement, and that no troop movements or patrols would be conducted toward the other side's positions.

Natthapon stated that the Thai armed forces would consider a ceasefire only when all hostilities are clearly ceased based on actual behavior and action on the ground.

The ceasefire will be monitored for 72 hours, Natthapon said, adding that "once the situation stabilizes, civilians will be able to safely return to their homes, after which the 18 detained Cambodian soldiers will be released, according to the international norms and practice."

According to the Cambodian Defense Ministry, Thailand will return 18 captured Cambodian soldiers if a ceasefire has been fully maintained for 72 hours.

Both sides also agreed to refer to the Joint Boundary Commission to resume, as soon as possible, the survey and demarcation work, in accordance with existing agreements between the two countries to achieve lasting peace along the border.

This joint statement follows a new wave of clashes at the Thailand-Cambodia border, which began on December 7. Both sides have accused each other of "firing first," and the violence has resulted in over a hundred casualties and forced hundreds of thousands to flee their homes.

Prior to the joint statement, representatives from both sides held a meeting at the Secretariat of the Joint Border Committee to discuss the ceasefire from December 24 to 26. The two countries had previously signed a joint declaration on peace during the ASEAN summit on October 26.

The conflict initially erupted at the Thailand-Cambodia border on July 24 with both sides accusing each other of violating international law.

In the first round of fighting, the two sides reached a ceasefire agreement on August 7 at a special meeting of the Joint Border Committee in Kuala Lumpur, Malaysia. At that time, both sides agreed to maintain their current military deployments and refrain from sending additional troops to the border.

(With input from Xinhua)