UN Secretary-General Kofi Annan hailed on Monday the reported ceasefire agreement between Israel and Palestine, and urged both sides to adhere strictly to their commitment.

In a statement released by his spokesman, Annan said he welcomes the agreement aiming at establishing a mutual ceasefire in Gaza.

However, he is deeply concerned that Palestinian militants continue to fire rockets against civilian targets inside Israel, stressing such attacks underscore the destructive power that militants have to derail the crucial efforts underway to de- escalate tensions.

The Secretary-General called upon both parties to adhere strictly to their commitment, and avoid hasty action which could jeopardize progress towards a sustained period of calm.

He also encouraged them to endeavor to extend the ceasefire to the West Bank.

Both parties agreed to a ceasefire after Palestinian President Mahmoud Abbas called Israeli Prime Minister Ehud Olmert Saturday to inform him that the Palestinian militant groups agreed to halt rocket fire.

The agreement says Israel shall stop the hostilities on Sunday morning and pull out from Gaza, while the Palestinians shall prevent missile attacks at the Israeli territory.

Source: Xinhua