BUENOS AIRES, February 20, 2008 (WAFA) - Saudi Foreign Minister Prince Saud al-Faisal said Wednesday that the lack of a positive response from Israel to Saudi Arabia's Middle East peace initiative is likely to lead to Arab states reevaluating their positions.

"We hope that Israel will respond positively to our efforts in order to avoid despair which will force us to reassess our options," he said at the opening of a meeting in Buenos Aires between leaders of Arab and Latin American countries.

Faisal went on to say that Arab states' participation in the Annapolis peace conference was based on the notion that the region was on the verge of a new era of peace negotiations.

Regarding ongoing Palestinian-Israeli talks, Faisal said: "It is illogical to constantly blame the weak side of the equation. The Palestinian people are suffering and it is impossible to ignore the fact that Israel is expanding settlements."