Israeli PM Benjamin Netanyahu attends his weekly cabinet meeting in Be’er Sheva, Israel, 12 Jul 2009

Israeli Prime Minister Benjamin Netanyahu is urging Palestinian President Mahmoud Abbas to meet with him immediately to restart peace talks.

Mr. Netanyahu told his Cabinet Sunday he is ready for talks with the Palestinian leader on political issues and economic cooperation. He says Israel has the ability to attract many investors to develop the Palestinian economy.

Mr. Abbas's government in the West Bank has said it will not restart peace talks unless Israel stops all settlement activities in the territory.

The Palestinian and Israeli leaders have not met since Mr. Netanyahu took office in March. 
 

Mr. Abbas said Sunday Israel and the Palestinians both must fulfill their obligations under the internationally-backed 2003 "road map" peace plan. It calls on Israel to freeze settlement activity and urges Palestinians to crack down on militants who seek the Jewish state's destruction

Palestinian President Mahmud Abbas

The Obama administration is pressuring Israel to stop all construction in settlements built on West Bank land the Palestinians claim for a future state. Israel says it will not build new settlements, but will allow construction in existing settlements to accommodate population growth.

Mr. Netanyahu said Sunday Israel has eased security restrictions in the West Bank in recent weeks to help the Palestinian economy. He says Israel will expand such measures only if it secures cooperation from Mr. Abbas's government.