It's the most comprehensive peace proposal from 57 Muslim countries who would recognize Israel, as it is, a predominantly Jewish state. However, they cannot sign-on without the Palestinian - Israeli conflict resolved. The Arab Peace Initiative since 2002 had merit on its basic principles and currently has been further accommodated for Israel's interest. It's also very unfortunate that the Arabic language has been lacking within Israeli society because it would have not only assisted with security matters but also brought cultural similarites in the foreground.
Italian FM arrives in Iran to promote economic, political ties (Reuters)
from the article: Get Arab leaders to recognize Israel and you, John Kerry, might prosper