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Following is a translation of the draft text obtained by Reuters of the Saudi-initiated peace plan, due to be presented for approval at the Arab summit in Beirut tomorrow and Thursday:

The Council of the Arab League, which convenes at the level of a summit on March 27-28, 2002 in Beirut, affirms the Arab position that achieving just and comprehensive peace is a strategic choice and goal for the Arab states.

After the Council heard the statement of Crown Prince Abdullah bin Abdul Aziz in which he called for the establishment of normal relations in the context of a comprehensive peace with Israel, and that Israel declares its readiness to withdraw from the occupied Arab territories in compliance with UN resolutions 242 and 338 and Security Council resolution 1397, enhanced by the Madrid (peace) conference and the land-for-peace principle, and the acceptance of an independent, sovereign Palestinian state with al-Quds al-Sharif (Jerusalem) as its capital, the Council calls on the Israeli government to review its policy and to resort to peace while declaring that just peace is its strategic option.

The Council also calls on Israel to assert the following:

l Complete withdrawal from the Arab territories occupied since 1967, including full withdrawal from the occupied Syrian Golan Heights and the remaining occupied parts of south Lebanon to the June 4, 1967 lines.

l To accept to find an agreed, just solution to the problem of Palestinian refugees in conformity with Resolution 194.

l To accept an independent and sovereign Palestinian state on the Palestinian lands occupied since June 4, 1967 in the West Bank and Gaza Strip and with Jerusalem (al-Quds al-Sharif) as its capital in accordance with Security Council Resolution 1397.

In return, the Arab states assert the following:

l To consider the Arab-Israeli conflict over and to enter into a peace treaty with Israel to consolidate this.

l To achieve comprehensive peace for all the states of the region.

l To establish normal relations within the context of comprehensive peace with Israel.

The Council calls on the Israeli government and the Israelis as a whole to accept this initiative to protect the prospects of peace and to spare bloodshed so as to enable the Arab states and Israel to coexist side by side and to provide for the coming generations a secure, stable and prosperous future.

It calls on the international community with all its organizations and states to support the initiative.

The Council calls on its presidency, its secretary general and its follow-up committee to follow up on the special contacts related to this initiative and to support it on all levels, including the United Nations, the United States, Russia, the European Union and the Security Council.