Article content continued

“We extend our hand in peace to the Palestinians,” Netanyahu said. “Israel has proven time and again it is ready for concessions in exchange for real peace, and the situation today is no different.”

“With a Palestinian partner that is willing to hold negotiations in good will, Israel will be ready for a historic compromise that will end the conflict with the Palestinians once and for all,” he said.

Recognizing the deep gaps between the sides, the White House has already said Obama will not bring any bold new peace initiatives with him, but will instead send Secretary of State John Kerry back to the region in the near future to see if progress can be made.

With a Palestinian partner that is willing to hold negotiations in good will, Israel will be ready for a historic compromise that will end the conflict with the Palestinians once and for all

The Palestinians refused to negotiate with Netanyahu in his last term while Israel continued to build homes in Jewish settlements in the West Bank and east Jerusalem. The Palestinians say construction in the areas, which Israel captured in 1967 and where they hope to establish a state, is a sign of bad faith. More than 500,000 Israelis now live in the two areas.

Netanyahu has refused to halt settlement construction, saying negotiations should resume without any preconditions. But the international community has shown growing impatience with the Israelis.

Since winning re-election, Netanyahu has said he would make peace efforts a priority in his new term. But during weeks of coalition negotiations, he gave little indication of what he would do. Monday’s speech was also devoid of specifics.