AlQa'dah 24, 1434, Sep 30, 2013, SPA -- Bahrain's Foreign Minister Shaikh Khalid bin Ahmed bin Mohammed Al Khalifa described the Custodian of the Two Holy Mosque's peace initiative which was adopted by Beirut Arab summit in 2002 as an important and valuable chance for Palestinians and Israeli to make peace. In a speech before the UN 68th general assembly in New York today, the Bahraini senior foreign policy official said the initiative provides the base for building a prosperous future for both Palestinians and Israelis and a firm base for co-existence and good neighborhood between Arab countries and Israel.