At WEF, a Pledge for Mideast Peace

Israeli Foreign Minister Tzipi Livni, left, and President of the Palestinian Authority Mahmoud Abbas, right, arrive on stage to a plenary session on the Middle East during the World Economic Forum (WEF) in Davos, Switzerland, Thursday, Jan. 25, 2007. Top business leaders, heads of state from around the world and NGOs gather here until Sunday. (AP Photo/Keystone/Alessandro della Valle) (Alessandro Della Valle - AP)

DAVOS, Switzerland -- Israel's foreign minister reached out to the Palestinian president in an emotional speech Thursday as she sat next to him at the World Economic Forum, saying lasting peace is the dream of her government and her people, and promising that a future Palestinian state is "not an illusion. It's there, it's achievable."

Tzipi Livni made clear, however, that her government would not compromise on its need for security and urged Palestinian President Mahmoud Abbas not to compromise with extremists, a reference to the militant Hamas government's refusal to disavow its call for the destruction of Israel.

But Livni also made a personal and impassioned plea for dialogue to begin, turning to face Abbas.

"I would like to negotiate, to speak, to meet, to talk," she said. On finding peace, she said: "There is nothing I want more ... this is part of our dream, this is part of our goal."

Abbas, for his part, said he was confident the peace process could be put back on track. "We are ready as of now to start serious negotiations," he said during the public session. Afterward, the two warmly shook hands. They are to meet one-on-one at a hotel on Friday.

"We are creating this momentum ...to put the train on the track and push it after that," Abbas told The Associated Press.

Abbas and Israeli Prime Minister Ehud Olmert are scheduled to hold three-way talks next month with Secretary of State Condoleezza Rice, although a date and place have not been set.

The renewed efforts to jumpstart peace talks have come amid widespread worry in recent weeks that unless progress is made, the Mideast in general will continue to deteriorate.

The pledges by Livni and Abbas followed pleas from Israeli and Palestinian youth, speaking via satellite from Jerusalem, Tel Aviv and the West Bank city of Ramallah, that their leaders end the long conflict.

Many in the crowd of some of the world's most powerful business and political leaders seemed deeply moved by their words.

The tone was a sharp departure from the somber mood that took hold of Davos a year ago, when Israeli and Palestinian delegates were stunned by news of the Hamas electoral victory in Palestinian elections. At the time, many predicted 12 months of pain lay ahead for the region, and they were right.

The year brought violent Palestinian infighting and crippling Western sanctions targeted at Hamas that have hit ordinary Palestinians hard. Progress in talks between Israel and the Palestinians ground to a halt in the months after Hamas's victory.