Jerusalem: Prime Minister Ehud Olmert on Sunday said he was ready to "treat seriously" a dormant Saudi initiative calling for a comprehensive peace agreement between Israel and the Arab world in exchange for a full Israeli withdrawal from lands captured in the 1967 Mideast War.
Olmert spoke to his Cabinet ahead of a meeting with Palestinian President Mahmoud Abbas, the leaders' second summit in the past month.
Both sides acknowledged they expected no major breakthroughs ahead of the formation of a new Palestinian government in the coming weeks.
The talks, following an inconclusive meeting on February 19 attended by US Secretary of State Condoleezza Rice, are part of US-backed efforts to prod the sides to a return to peace talks.
The Saudi peace initiative, which aimed to solve the Palestinian issue by offering Israel a comprehensive peace, was first proposed in 2002 but never got off the ground. It is expected to be high on the agenda at an Arab League summit later this month in Riyadh, Saudi Arabia.
The Saudis, who have never backed away from the initiative, have been pushing hard for other regional countries, many of whom also have endorsed it, to gather behind the initiative in strength to push the peace process forward.
Olmert told his Cabinet today that Israel is following developments in the Arab world "with the utmost attention" and noted "positive developments" among moderate Arab countries.
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