Manila, April 8 -- The Philippine government, through the Department of Foreign Affairs (DFA), on Wednesday welcomed with "cautious optimism" the planned negotiations between the United States and Iran, and hoped for an eventual peace deal.

Iran and the US formally agreed to a two-week ceasefire, with talks to negotiate a peace agreement set to begin in Pakistan on Friday.

In a statement, the DFA expressed hope that the dialogue would "lead to the permanent end of the conflict and lasting peace."

"The conflict has caused significant loss of lives and damage to civilian and economic infrastructure, as well as disruptions in the global economy," it said.

"The Philippines continues to hope that all parties will resolve their differences ...