BANGKOK, June 3 (Xinhua) -- Thailand is ready to act in accordance with the United Nations Convention on the Law of the Sea (UNCLOS), but believes that resolving issues directly between neighboring countries is the best approach to achieving a resolution, said Thai Deputy Prime Minister and Minister of Foreign Affairs Sihasak Phuangketkeow in a statement on Wednesday.

His remarks followed Cambodia's decision to initiate compulsory conciliation proceedings under UNCLOS concerning the overlapping maritime claims with Thailand.

Cambodia's decision to initiate such proceedings stands in stark contradiction to calls consistently made by Cambodia itself for a restoration of bilateral relations and a revival of discussions within various frameworks, including issues related to the land border between the two countries, the statement said.

Such a decision may have repercussions and cause efforts to rebuild trust and confidence towards restoring bilateral relations to falter or stall, the statement added.

Thailand is fully prepared to undertake all necessary actions in accordance with UNCLOS, placing the utmost importance on safeguarding the country's interests, the statement said. Sihasak is scheduled to meet with Thailand's legal counsel to finalize Thailand's list of conciliators and other preparations as anticipated by the Thai side.

Compulsory conciliation is one of the dispute settlement mechanisms provided for under UNCLOS, the statement read.

The outcome of the conciliation process takes the form of a report containing recommendations, which serves as a basis for the two parties to continue negotiations toward a mutually acceptable solution, it said, noting that such a report is not legally binding.

Cambodian Prime Minister Hun Manet said Tuesday that the kingdom has delivered a formal notice to Thailand and to the UN secretary general to begin compulsory conciliation proceedings under the UNCLOS concerning the overlapping maritime claims with Thailand.