His Excellency the President of France Nicholas Sarkozy, Foreign Minister Kouchner, President Abbas and Prime Minister Fayyad, distinguished co-chairs, colleagues, ladies and gentlemen.

Those gathered here share a common vision of a peaceful future. But, at the same time, we understand that to restore faith in the peace process we must not only build the foundations for the future, we must improve the economic and security reality in the present.

I am here because the establishment of a peaceful and prosperous Palestinian state that respects law and order and fulfills the legitimate national aspirations of its people is not just a Palestinian dream - it is also an Israeli interest. But I also know that the road before us will not be easy.

On the political front, we have launched negotiations in order to bridge the gaps between us and reach a peace agreement. I believe that there are those on the Palestinian side and in the Arab world that understand, like Israel, both the importance of the hour and the imperative of compromise. This is the obligation of the two parties alone. As Israelis and Palestinians, we must share ownership of this process and share responsibility for its resolution.