The White House has announced that the US president will host three-way talks with the Israeli and Palestinian leaders on Tuesday.
Barack Obama is due to meet Binyamin Netanyahu, the Israeli prime minister, and Mahmoud Abbas, the Palestinian president, separately before the three go into a joint session, the White House said.
The meeting is expected to take place in New York before a session of the United Nations General Assembly, the White House said, "to lay the groundwork for the relaunch of negotiations, and to create a positive context for those negotiations so that they can succeed".
Saeb Erekat, the Palestinian chief negotiator, welcomed Obama's personal involvment in the peace process, but indicated low Palestinian expectations for a positive outcome.
"At this point, I think President Obama must convey to the world that one side is undermining efforts to resolve the peace process," he told Al Jazeera on Sunday.
"This meeting is not about resuming negotiations. I don't think we will come out of this meeting with Netanyahu agreeing to resume negotiations or stop settlement expansion."
TPalestinians feel that we have met a lot of our obligations under previous commitments and agreements and phase one of the road map [for peace].
"Israel so far has failed to meet any of their obligations."
Areikat said that the efforts of the Obama administration were encouraging but "we will have to see what kind of discussions we will have on Tuesday
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