UN Secretary-General Kofi Annan on Tuesday hailed a truce announced by Palestinian President Mahmud Abbas and Israeli Prime Minister Ariel Sharon in Egypt's Red Sea resort, Sharm el-Sheikh.

"He believes that their joint announcements to cease violence after four years of death and suffering provide an opportunity for the peace process to resume," said UN spokesman Fred Eckhard in a statement.

The statement said Annan commended the steps taken by the Israeli and Palestinian leaders and looked forward to further cooperation as part of the implementation of their obligations under the roadmap peace plan.

He also praised Egyptian President Hosni Mubarak for organizing the Sharm el-Sheikh summit and for his leadership in the peace process.

Annan "believes that the active participation of Egypt and of King Abdullah of Jordan will greatly enhance the chances of achieving a just, lasting and comprehensive peace in the critical months ahead," the statement said.

Israel and the Palestinians concluded a successful summit Tuesday in Egypt's Red Sea resort of Sharm el-Sheikh by declaring a ceasefire with each other.

The summit, which brought together Sharon, Abbas, Mubarak and Abdullah, marked the highest level contact between the Palestinians and Israel in more than four years.

Source: Xinhua