"Senior diplomats who make up the international "quartet" on the Middle East conflict are attempting to re-launch the Palestinian-Israeli peace process.
Representing the United Nations, Secretary General Kofi Annan sketched out the quartet's plan.
He described it as a "road map" which envisages Palestinian security reform and elections, Israeli troop withdrawals and finally the creation of a Palestinian state. "
"In early reaction to the plan, Israeli Foreign Minister Shimon Peres, who is in New York, said he was satisfied.
As far we are concerned, we approved the role of the quartet," Mr Peres told reporters.
However, Israeli Prime Minister Ariel Sharon is believed to be critical of an EU proposal earlier in September on which the quartet's plan is partly based.
Mr Sharon was reported to have deep reservations about the plan and consider the timetable unrealistic.
Jordanian Foreign Minister Marwan Moasher and Egyptian Foreign Minister Ahmed Maher said they were disappointed that the plan did not propose clearer timetable, but still welcomed it. "
A timetable for peace is a good thing, however both sides need to be serious with this, if theres to be peace then theres need to be a ceasefire.