The accord and possible areas of cooperation covers crimes such as terrorism, money laundering, smuggling, piracy, hijacking, illegal migration, marine pollution, arms trafficking and other crimes.
Deputy foreign ministers of the three countries, which are all grappling with Muslim extremist violence, ended a two-day conference in Manila yesterday to finalize the accord.
Brunei and Thailand sent observers to the meeting.
The draft document calls for a system to determine how the countries security forces can collaborate to confront border crime.
Foreign ministers of the three countries are to debate and possibly sign the document in their annual meeting in Phuket, Thailand early next year.
The draft also calls for the creation of a joint committee to report on implementation of the accord and communicate to their respective superiors.
"This agreement will have to be approved by the foreign ministers. The important thing is we reached an agreement," Foreign Affairs Undersecretary Lauro Baja said.
He said the signatories also tentatively agreed to draft and distribute among themselves a list of suspected terrorists to watch out for.
As an example of the necessity of such an accord, Baja cited last years kidnapping of 21 Western tourists and Asian workers in a Malaysian resort by Abu Sayyaf guerrillas, a Muslim extremist rebel group based in the southern Philippines. All but one of the hostages were freed reportedly after huge ransoms were paid.
Piracy and drugs and arms smuggling are rampant in the three countries border areas, generating funds that could be used to finance further terrorism. Smuggled arms have also found their way to troubled areas of the three countries.
It was still unclear in the draft precisely how the three countries would quell a particular security threat in their common border area.
Such security cooperation would benefit the Philippines partly because of its weak military. It is currently getting some training and equipment from its long time ally, the United States, to destroy the Abu Sayyaf guerrillas, who hold hostage an American couple and a Filipino nurse in Basilan.
Philippine officials, who drafted the accord, hope other Southeast Asian countries will later join the anti-terrorism effort spearheaded by the three countries, which are founding members of the 10-nation Association of Southeast Asian Nations. Pia Lee-Brago