The period of time between the withdrawal and the follow-up peace offer can be practically negligable. The point is the withdrawal (on paper) does something very important. It allows Israel a way to meet the demands of UN res 242, 338, etc, upon which the Arab offer is based. This withdrawal would confer legitimacy to the final result in a way that direct negotiations (made without regard to UN res 242 and 338) never could. The Arab response (on the same sheet of paper) would then offer Israel a way to keep some of the Settlements, parts of East Jerusalem, and appropriate access to sites of religious and historic significance. An arrangement like this precludes Israel from having to make negotiation demands that are inherently illegal. In other words the previously occupied party may offer a concession that the occupier cannot legally demand. With those considerations, it is important that a final border be as short and straight as possible.
US rally shows support for ex-Marine held by Iran on spying charges (AP)
from the article: Arab peace initiative is another missed opportunity for Israel