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Thailand and Cambodia should work together to develop and benefit from the natural resources in their disputed waters, suggested Deputy Prime Minister Suthep Thaugsuban.

The two countries should set up a joint venture to mutually develop resources in the disputed waters claimed by both countries, Mr Suthep said yesterday.

He made his comment in response to reports that Cambodia had unilaterally granted a petroleum exploration concession to a Japanese company in the disputed zone.

A joint venture could offer a resolution to the dispute as both countries had yet to discuss the demarcation of the area, he said.

"Regarding the disputed waters of Thailand and Cambodia, Cambodia is also claiming possession and has already started granting the areas to concessionaires.

"As Thailand is doing the same thing, I think if this continues, the situation would become all the more complicated," Mr Suthep said.

"What we can do is enter into negotiations and agree that the claimed territories should not overlap. We should cooperate and share the benefits."

Mr Suthep said he had not yet contacted any Cambodian officials to discuss the idea as he currently had bigger issues to deal with.

However, if Prime Minister Abhisit Vejjajiva wanted the matter to be dealt with immediately, he would go ahead and do so, said Mr Suthep.

Vasin Teeravechyan, chairman of the Thai-Cambodian Joint Boundary Commission, explained that both Thailand and Cambodia were granting concessions in disputed waters to demonstrate their right over the areas and concessionaires should not launch any operations there as long as there is no pact between the two countries.

So far, petroleum exploration has not begun on behalf of Cambodia in the disputed waters.

Such operations were time-consuming and also required the installation of an oil rig which could not escape the Royal Thai Navy's eye as its vessels regularly patrol the contentious sea borders, he said.

Cambodia earlier agreed to grant a concession to France-based Total for petroleum exploration in a disputed area between Thailand's Koh Kut island in Trat province and Cambodia's Koh Kong island. But the deal has still not been signed.

Mitsui Oil Exploration Co has applied to Cambodia for exploration rights in the overlapping area.

The Thai government cannot go ahead with the negotiations without seeking parliamentary approval for a framework on the talks first.