JERUSALEM, March 30 (Xinhua) -- Israel on Friday released its official response to the Arab summit held in Saudi Arabia's capital of Riyadh, but didn't mention the Arab initiative approved at the meeting.

    In a statement issued by the Israeli Foreign Ministry, the Jewish nation said it believes in peace, and seeks to establish peaceful and neighborly relations both with the Palestinian people and with all states of the region.

    "Israel is sincerely interested in pursuing a dialogue with those Arab states that desire peace with Israel, this in order to promote a process of normalization and cooperation." said the statement, adding that, "Israel hopes that the Riyadh summit will contribute to this effort."

    Rather than commenting on the Arab initiative, which is unanimously adopted by Arab states during the summit, Israel stressed its own principles on reaching peace with the Palestinians.

    "Israel's position with regard to the peace process with the Palestinians is founded upon fundamental principles," said the statement.

    "The most central of which is the existence of two nation-states, with each state addressing the national aspirations of its own people - Israel for the Jewish people and Palestine for the Palestinian people - and with both states coexisting in peace, free of the threat of terrorism and violence," the statement added.

    The statement also called for dialogue between Israel and the "moderate Arab states", and said that Israel believes its dialogue with Arab states can contribute to resolving the Israeli-Palestinian conflict.

    During the two-day summit, a Riyadh-proposed Arab peace initiative was approved again.

    The peace initiative was first agreed by the Arab League in 2002. it calls for Israel to withdraw to its 1967 borders, the establishment of a Palestinian state with East Jerusalem as its capital and an agreement on the matter of the Palestinian refugees.

    The initiative was rejected by Israel when it was first proposed.

Related:

Arab leaders wrap up summit, adopt Riyadh declaration

    RIYADH, March 29 (Xinhua) -- Arab leaders wrapped up a two-day summit in Saudi capital of Riyadh on Thursday, adopting the Riyadh declaration that activates the Arab peace initiative and calls for clearing the Middle East from weapons of mass destruction and nuclear arms.

    The final session of the 19th summit ended at 4:00 p.m. (1300 GMT) with host Saudi King Abdullah announced the closure of the Riyadh summit.

    The declaration affirms the option of just and comprehensive peace as a strategic option for the Arab nation.  Full story