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Claimed as the oldest traditional craft in Asia, the Paraw Regatta is a race among seafarers on colorful sailboats called Paraws in the Iloilo Strait between Guimaras Island and the city of Iloilo. The present-day paraw managed to maintain its original design from the sailboats of the first settlers from Borneo who were in search of a peaceful home in 1212 AD. Surviving centuries, the paraws have become a vital part of the Filipino seafaring life. The first race started in 1973 with the mission to preserve the historic value of the paraws. It is held every 3rd weekend of February at Villa Arevalo District in Iloilo City. Today, the event has grown from being a boat race to a festival with various interesting and exotic activities.