Huddled among themselves in a separate meeting earlier, the ASEAN foreign ministers praised the completion of the draft.
"The West Philippine Sea or the South China Sea has been an area of complex disputes and disagreements", Cayetano said before meeting his Asean counterparts and the bloc's partners.
"It doesn't seem likely it [the conflict] will escalate further, but what they [China and the US] are doing is not encouraging either", the person said.
The annual forum, hosted by the Association of Southeast Asian Nations (ASEAN), brings together top diplomats from 26 countries and the European Union for talks on political and security issues in Asia-Pacific.
Vietnam has offered some of the stiffest resistance to China in the region, regularly complaining about Beijing's activities on contested islands and in disputed waters.
China wants to stage joint military exercises with Southeast Asian nations in disputed waters, according to a draft document, but insists other countries should be excluded in what analysts say is a bid to diminish U.S. influence.
The final communique released late on Thursday made no mention of this, however. Malaysia this year said it had foiled a cyber heist of its central bank.
Neither country has identified the hackers.
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Friday and the weather service warned residents in low-lying areas north of the dam to move to higher ground immediately. Because the sediment from the City's runoff is trapped above the dam, the lake has dramatically reduced in size.
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The Chinese Foreign Minister said that Beijing dispatched its most advanced rescue ship equipped with professional search-and-rescue teams to the Nansha Islands (in South China Sea) days ago, to carry out various missions. Moscow has denied involvement.
Many Southeast Asian countries have been unsure of US economic policy toward the region since President Donald Trump won a 2016 election promising to put "America First".
U.S. Secretary of State Mike Pompeo is due in Singapore on Friday fresh from unveiling a investment pitch for the region, although many ASEAN members could be more concerned with a U.S.
Wang did not elaborate, but in the past, China has accused Washington of meddling in what it calls an Asian dispute.
Singapore Prime Minister Lee Hsien Loong (李顯龍) expressed hopes that the Regional Comprehensive Economic Partnership (RCEP) will be concluded by the end of the year and issued warnings against rising protectionism Thursday, reports said.
"As two members of the U.N. Security Council and the world's largest two economies, we should of course maintain talks at all times", Wang said.
ASEAN is also set to urge steps for "the complete, verifiable, irreversible denuclearisation" of the Korean peninsula, saying it welcomed a pact between the United States and North Korea at June's landmark summit in Singapore.
Speaking on the event sidelines on Thursday, China's Wang Yi called for a push to establish a peace mechanism as well as denuclearisation.