US Secretary of State Colin Powell today said that a Palestinian state was "possible" by the year 2005 and that the US is committed to achieving the target.
He said the date was foreseen by the Middle East "road map" for peace from the so-called Quartet - the US, the UN, the European Union and Russia - not due to be unveiled until after Tuesday's Israeli election.
"With intensive effort by all, the creation of a democratic, viable Palestine is possible in 2005, and the US will be engaged fully... in the coming months and years," Mr Powell said.
But the US secretary of state also hinted that conditions must change in other countries in the region.
"With respect to the broader Middle East, Saudi Crown Prince Abdullah is right - Arab governments must introduce meaningful political and economic reforms if their people are to realise their potential," he said.
Mr Powell told the UN Security Council last week that he hoped to put "new energy" into Middle East peace efforts after this week's Israeli elections.
"We remain committed to the work of the Quartet and we remain committed to the roadmap we believe provides a way forward," Mr Powell said.
He rejected Israeli Prime Minister Mr Ariel Sharon's dismissal of the group and its timeline for creating a Palestinian state by 2005.
Mr Powell said he believed there was a chance to breathe new life into the process once Israel's election was over.
"I think there will be an opportunity to put new energy into the peace process and to do something about the terrible situation that is affecting both people, both the Palestinians and the Israelis," he said.