text: effective manner, they will promote the initiation of h negotiating process. Surely the exchanges of acrimony across the Security Council table cannot be more edifying or beneficial to the cause of the Arab States and Israel alike than exchanges across a negotiating table. 110. We take note of the statement made by the Foreign Minister of Egypt that Egypt accepts direct negotiations with Israel without prior conditions. Much that Minister El-Zayyat said after that destroyed the significance of that declaration and turned it into another seemingly polemical argument. Yet, this is an opportunity that the Security Council must not and cannot miss. This is a challenge to which it must respond. This is the hour for the Security Council to call on the parties to enter into direct negotiations without any pre-conditions. The eyes of the world are on this chamber. Will it now live up to the historic test? Will it now turn away from the methods which have proved to be fruitless in the past, and will it guide the parties to the path of negotiations, the only one that can lead to peace? 111. This is the road Israel invites Egypt and the other Arab States to take. Israel considers that the most practical way would be to follow this road step by step, beginning with the proximity talks for the reopening of the Suez Canal. Israel is prepared, however, to enter into any fret negotiations without pre-conditions. It has no ultimative demands. It does not ask Egypt to accept in advance any Israeli views or positions on any point, and in the same way it cannot accept in advance, as a pre-condition, the Egyptian demands. Israel seeks an honourable, meaningful dialogue in which the parties would engage in a joint effort 
analysis: The text appears to be a diplomatic statement or resolution related to the Israeli-Palestinian conflict, discussing the initiation of negotiations and the need for direct talks between the parties. It does not mention specific economic or environmental issues, but rather focuses on the political process and the search for peace.