Phnom Penh, Oct 25 : The ruling Cambodian People's Party (CPP) signed a Cooperation and Coalition Agreement with 27 other political parties on Wednesday. CPP President and former Prime Minister Hun Sen inked the historic deal with representatives of those parties at a ceremony held at the ruling party's headquarters in Phnom Penh, reports Xinhua news agency. Speaking at the event, Hun Sen said the alliance aimed to maintain the Southeast Asian country's hard-earned peace and political stability, the most important prerequisite for socio-economic development. "The coalition is to strengthen national unification and to mobilize national patriots to maintain peace and political stability for the country's long-term development and prosperity," he said. Hun Sen added that the alliance parties have vowed to protect independence, sovereignty, territorial integrity, constitution and monarchy, as well as to enhance multi-party democracy, human rights, the rule of law and social justice. He said the alliance parties will work together on an equal footing with mutual respect, regardless of big or small parties. The move came in response to the recent formation of an opposition coalition -- the Alliance Towards the Future, which comprises four opposition parties, namely the Candlelight Party, Khmer Will Party, Grassroots Democratic Party and Cambodia Reform Party. The CPP swept 120 of the 125 National Assembly seats, while the royalist Funcinpec Party secured five seats in a general election on July 23. /IANS