CAIRO, June 8 (Xinhua) -- The Arab foreign ministers will hold an emergency meeting on June 17 to come up with a common Arab stance on U.S. President Barack Obama's speech in Cairo University, a source at the Cairo-based Arab league (AL) said Monday.

    "An emergency meeting will be held at Arab League on June 17 to discuss Obama's speech," the source told Xinhua.

    "The meeting will discuss Obama's proposal to stop building Israeli settlements and resuming Israeli-Palestinian peace talks according to the two-state solution," the source said.

    The agenda also involves a meeting between Arab Peace Initiative Committee and Quartet delegates, the source said.

    Obama said in his speech last Thursday that the United States seeks "a new beginning" between the Muslim world and itself, in a bid to defuse the U.S.-Islam tensions during the past eight years caused by his predecessor George W. Bush administration's anti-terrorism campaign.

    Meanwhile, Obama reiterated the U.S. support for the two-state solution, urging Israelis to stop settlements and Palestinians, particularly Hamas, to abandon violence.

    Obama also urge the Arabs to develop the Arab Peace Initiative, a Saudi-proposed peace offer.

    "The Arab states must recognize that the Arab Peace Initiative was an important beginning, but not the end of their responsibilities," he said.

    The Arab Peace Initiative, which embodies the two-state guideline, was adopted in the Arab summit held in Beirut in 2002.

    It offers the Arab acceptance of the Jewish state in exchange for an independent Palestinian state on the pre-1967 borders.