Israel said Tuesday it welcomes Egypt's efforts in "advancing a future of peace and security between Israel, Palestine, and the people of the region." Benjamin Netanyahu's spokesperson for Arab media Ofir Gendelman said the Israeli Prime Minister expressed his country's readiness to participate with Egypt and Arab states in promoting both the diplomatic process and the stability in the region. “I appreciate President El-Sisi's work and [am encouraged by] his leadership on this important issue,” Netanyahu said, praising the Egyptian president's remarks. Earlier on Tuesday, Egypt's President Abdel-Fattah El-Sisi addressed during a speech Israeli leaders and Egypt's Palestinian neighbours, stressing that peace, prosperity and cooperation will only take place if both parties are able to reach a two-state solution. El-Sisi recalled the 1979 Israel-Egypt Peace Treaty and the positive outcomes accomplished in the peacemaking process between Egypt and Israel, calling on the Israelis and the Palestinians to seize the opportunity to bring security and hope to both countries. "Some people may see this [peace treaty] as cold peace, yet I believe that much warmer peace will be achieved only if we are able to provide guarantees to the Palestinian people," El-Sisi said. He then highlighted that recently leaders of the Arab initiative have come up with a new framework for cooperation between the involved countries and Israel that is contingent on achieving a solution for the Israeli-Palestinian conflict. An extraordinary Arab League summit is expected to be held ahead of the French-sponsored peace initiative - opposed by Israel – that is scheduled to take place in Paris this summer. The Arab league summit - which will feature Arab foreign ministers from all league nations and will headed by Bahrain - will discuss the Arab stance that will be presented at the Paris summit. Palestinian President Mahmoud Abbas, who met last week with his Egyptian counterpart and discussed the peace process to restore hope for the Palestinians, is expected to attend the league summit that will take place on 28 May. http://english.ahram.org.eg/News/217040.aspx