Egypt has hosted several Middle East peace summits
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The Egyptian and Israeli foreign ministers have reaffirmed their commitment to the roadmap peace plan.
Egypt's Foreign Minister Ahmed Maher is on his first visit to Israel for two years, aimed at reviving stalled Israeli-Palestinian peace talks.
At a joint press conference, Israeli Foreign Minister Silvan Shalom thanked Egypt for its recent mediation efforts.
Egypt has been stepping up attempts in recent weeks to help break the deadlock between the Israelis and Palestinians.
Mr Maher held talks with the Israeli Prime Minister Ariel Sharon, who said that stronger relations with Egypt were improving the prospects for a peace agreement with the Palestinians.
Speaking after the talks, Mr Maher said he had a commitment from Israel to resume negotiations as soon as possible and he emphasised what he said was Israel's desire to co-operate.
Ceasefire
Egypt recently hosted talks between Palestinian militant groups with the aim of establishing a ceasefire.
But so far, the militant groups have refused to agree unless Israel makes similar guarantees.
The roadmap calls on the Palestinians to curb the activities of militant Islamic groups, and on Israel to halt the construction of new Jewish settlements in the occupied territories and to dismantle some established ones.
Israeli leaders invited Mr Maher as part of moves to improve the bilateral relationship.
The visit also comes after the Egyptian President, Hosni Mubarak, called on Israel to renounce its nuclear weapons.
His comment was in response to news that Libya is giving up its own weapons of mass destruction.
Israel is thought to have a long-established nuclear programme, although it has always refused to confirm or deny that.