Israeli leaders have expressed hope for achieving regional peace between Israel and the Arab world, with the help of the Egyptian President.

Israel's Prime Minister Benjamin Netanyahu (L), President Shimon Peres (C) and Egyptian ambassador to Israel Yasser Reda cut a cake decorated with the Egyptian flag at the ambassador's residence in Herzliya.[Pavel Wolberg/CCTV/AFP/POOL]

The Israeli President and Prime Minister both spoke at the residence of the Egyptian ambassador to Israel on Thursday.

Shimon Peres, Israeli President, said, "It is today an opportunity to make two peaces - a peace with the Palestinians and a peace in the region with the Arab countries. As a matter of fact they are interwoven as one can help the other, and I do believe that the man that can really lead this attempt, historic attempt, is President Mubarak."

Prime Minister Benjamin Netanyahu meanwhile, pledged to expand and deepen relations between Israel and Egypt, the first Arab state to recognize Israel. He said Israel hopes in the months and years ahead to forge a peace with the Palestinians and to expand that into a vision of a broader regional peace.

(CCTV July 24, 2009)