[1][2] When consulted in a non-binding referendum on resolving the conflict by then-President Raúl Alfonsín, 82% of Argentine population voted in favor of signing the treaty.

[3] The treaty recognizes the Boundary Treaty of 1881 between Chile and Argentina and its «…supplementary and declaratory instruments…» as the unshakeable foundation of relations between Chile and Argentina and defines the border «…from the end of the existing boundary in the Beagle Channel, i.e., the point fixed by the coordinates 55°07.3' South latitude and 66°25.0' West longitude…» (Bold by Wikipedia).

From the Cape Horn Meridian (67°16',0 West) to the east end of the Isla de los Estados both countries reduced their internal waters to 3 nmi (5.6 km) only in their mutual relations.

The line ABCDEF gives most of the exclusive economic zone of the islands (eastwards of Cape Horn) previously in dispute to Argentina.

New in respect thereof is that the Argentine Republic undertakes to maintain, at any time and in whatever circumstances, the right of ships of all flags to navigate expeditiously and without obstacles through its jurisdictional waters to and from the Straits of Magellan.

The parties reiterate solemnly their commitment to preserve, strengthen and develop their unchanging ties of perpetual friendship and to refrain from resorting directly or indirectly to any form of threat or use of force and from adopting any other measures which may disturb the peace in any sector of their mutual relations.

The Sea of the Southern Zone (Spanish: Mar de la Zona Austral)[4] or Southern Zone Sea is the name given by Argentina and Chile to the maritime area whose boundaries were undefined, located south of the Isla Grande de Tierra del Fuego.

On 19 May 2010 the United Kingdom presented a note verbale rejecting the Argentine government's decree and disposition, saying that they "are not complaint [sic] with International Law including the UN Convention on the Law of the Sea", and with respect to the Straits of Magellan the note recalls that "the rights of international shipping to navigate these waters expeditiously and without obstacle are affirmed in the 1984 Treaty of Peace and Friendship between Chile and Argentina with respect to the Straits of Magellan".

[9] Article 10 of the 1984 Treaty states "The Argentine Republic undertakes to maintain, at any time and in whatever circumstances, the right of ships of all flags to navigate expeditiously and without obstacles through its jurisdictional waters to and from the Strait of Magellan".