The aim is ambitious - a package deal tackling the Middle East's most burning problems:
Preventing Iraq from collapsing into violent anarchy
Creating a power-sharing Palestinian government
Reviving an Arab-Israeli peace plan
Breaking the political deadlock in Lebanon
This effort and two more in progress:
Spokesmen of Palestinian President Mahmoud Abbas as well as the caretaker Hamas-led government said on Tuesday night the national unity government would be announced in 48 hours.
Israel and Palestinian launched a peace initiative in Tokyo on Wednesday, in expectation of improving economic cooperation between the two sides.
The initiative, the "Concept for Creating the Corridor for Peace and Prosperity," was launched at a Cabinet-level meeting hosted by Japan and attended by Israel, the Palestinian and Jordan.