The announcement was made by Malaysian Foreign Minister Anifah Aman after a meeting with his counterpart from Indonesia and Thailand, called to address the plight of the migrants. Most of them are the long-persecuted Rohingya Muslim minority in Myanmar and others are Bangladeshis fleeing poverty.
"Indonesia and Malaysia agreed to continue to provide humanitarian assistance to those 7,000 irregular migrants at sea," Anifah told reporters.
"In the meantime, Malaysia and Indonesia invite other countries in the region to join in this endeavor" he said.
A few thousand migrants have already made it to shore in Indonesia's Aceh province and Malaysia's Langkawi island.
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Most of the victims are believed to be victims of human traffickers, who recruit them in Myanmar's Sittwe province and in Bangladesh with promises to give them safe passage to Malaysia, and jobs once they land there.
The victims then have to ask their relatives back home to give money to the smugglers in return for their release.
"The enforcement agencies of the countries concerned will continue to share intelligence information in their efforts to combat people smuggling and human trafficking," Anifah said.