Hong Kong ( CNN ) -- China has agreed to hold formal talks with its southeast Asian neighbors about establishing a `` code of conduct '' to ease maritime tensions in the South China Sea , a major step forward in the long-running dispute . A statement issued after a weekend meeting of foreign ministers from the 10-member Association of Southeast Asian Nations ( ASEAN ) and China in Brunei , said the countries `` aim to reach a conclusion of a Code of Conduct in the South China Sea , which will service to enhance peace , stability and prosperity in the region . '' The South China Sea is home to messy mix of rival territorial claims , with China , Brunei , Malaysia , the Philippines , Taiwan and Vietnam disputing sovereignty of island chains and nearby waters . The areas in dispute include fertile fishing grounds and potentially rich reserves of undersea natural resources . Asia 's disputed islands -- who claims what ? However , analysts said the move was unlikely to yield a quick fix for one of the region 's biggest flash points . Stephanie Kleine-Ahlbrandt , Northeast Asia Director at the International Crisis Group in Beijing , said that it was a `` positive development '' and a code of conduct was urgently needed as China steps up its law enforcement patrols and military exercises in the South China Sea . `` It also provides substance to Beijing 's rhetoric that its relations with Southeast Asian countries remain a foreign policy priority , '' she said . `` But this is only a first step , and there is a long way before an effective code can be developed and implemented . Beijing has a record of suspending talks as soon as tensions with rival claimant countries flare -- precisely when talks are most needed . '' China has previously stated that it wishes to deal bilaterally with disputes in the South China Sea but a multitude of domestic problems , and the headway the U.S. is making in the region as part of its `` pivot '' to Asia , means China 's new leaders have decided that now is not the time to press issue , Kleine-Ahlbrandt added . Speaking to ASEAN foreign ministers on Monday , U.S. Secretary of State John Kerry said he supported a `` substantive '' code of conduct to deal with the overlapping territorial claims . His predecessor , Hilary Clinton , repeatedly emphasized the need for a multi-lateral solution to the problem . `` As a pacific nation , and a resident power , the United States has a national interest in the maintenance of peace and stability , respect for international law , unimpeded lawful commerce and freedom of navigation in the South China Sea , '' Kerry said , according to the Straits Times . `` As we have said many times before , while we do not take a position on competing territorial claims over land features , we have a strong interest in the manners in which the disputes of the South China Sea are addressed , and in the conduct of the parties . '' Friction between China and the Philippines has intensified this year following several naval standoffs , with Manila challenging Beijing 's claims to waters off the Philippines at an international arbitration tribunal . Ian Storey , senior follow at the Institute for Southeast Asian Studies in Singapore , says a code of conduct is a way to manage , not solve , the dispute and China is likely to drag out talks . It has already asked for the formation of an `` experts committee '' to advise on the drafting on the code of conduct that could slow negotiations , he added . `` Even at the end of the process , the final agreement is unlikely to be this formal , binding , effective and robust agreement that people are hoping to see. ``
China agrees formal talks with ASEAN countries over code of conduct . Move to ease maritime tensions in South China Sea . But analysts warn there is no quick fix to the dispute . They warn China is likely to drag feet in negotiations .