MANILA, Philippines – Muslim rebels signed a historic framework agreement with the Philippines government Monday (October 15th), aimed at ending four decades of insurgency. A final peace pact is anticipated in 2016, AFP reported.

Overseeing the signing at the presidential palace in Manila were President Benigno Aquino and Moro Islamic Liberation Front (MILF) chief Murad Ebrahim.

"I come here to forge a partnership of peace on the basis of the framework agreement between the MILF and the Philippines government," Ebrahim said in a speech. "We extend the hand of friendship and partnership to the president and Filipino people."

Aquino described the agreement as a chance to "finally achieve genuine, lasting peace".

AFP reported that under the plan, the 12,000-strong MILF would drop its quest for an independent homeland in the southern Mindanao region in return for significant power and wealth-sharing in a new autonomous region there.

But concerns about implementation still remain. "As the saying goes, the devil is in the details. Much work remains to be done in order to fully reap the fruits of this framework agreement," Aquino said in his speech ahead of the signing by chief negotiators.