The Ulster Unionist Party leader, Mr David Trimble, signalled yesterday that if the IRA appointed an intermediary to deal with Gen John de Chastelain's decommissioning body, the executive would be established.
Sinn Fein in turn accepted that decommissioning was an "essential" part of the peace process. The party also expressed its opposition to violence and its conviction that the arms issue would be "satisfactorily" resolved.
The UUP and Sinn Fein, as part of a mutual step-by-step approach, issued separate statements designed to build confidence and resolve the impasse over decommissioning and devolution.
Mr Trimble said both traditions in the North had suffered as a result of the conflict and division. This had made it all the more important that "we now put the past behind us."
He added: "The establishment of inclusive political institutions and the commencement of the process of decommissioning are the first steps in this process."
He indicated that if an IRA intermediary was appointed to liaise with the decommissioning body - which is expected shortly - the executive would follow.
"If, in our view, a genuine and meaningful response is forthcoming to Monday's statement from the Independent International Commission on Decommissioning, the way will then be clear for the establishment of the political institutions envisaged in the Belfast Agreement," he said.
"Unionist, loyalist, nationalist, and republican must take these steps together to secure a new era of co-operation, reconciliation and mutual respect."
A new government for Northern Ireland would have the task of rebuilding its damaged economy and its social fabric. "We now have a chance to create a genuine partnership between unionists and nationalists in a novel form of government. It offers us the opportunity to put past failures behind us," Mr Trimble said.
The Sinn Fein president, Mr Gerry Adams, in an equally conciliatory statement, said there was no doubt that "we are entering into the final stages of the resolution of the conflict.
"IRA guns are silent and the Sinn Fein leadership is confident that the IRA remains committed to the objective of a permanent peace.
"By providing an effective political alternative we can remove the potential for conflict. This conflict must be for all of us now a thing of the past, over, done with and gone."
Acknowledging the "particular focus" on arms, he said the issue was dealt with in the Belfast Agreement. "Sinn Fein accepts that decommissioning is an essential part of the peace process. We believe that the issue of arms will be finally and satisfactorily settled under the aegis of the de Chastelain Commission as set out in the agreement," he said.
Decommissioning was a collective responsibility and could come about only on a voluntary basis.
"Sinn Fein has a total and absolute commitment to pursue our objectives by exclusively peaceful and democratic means in accordance with the Good Friday agreement. For this reason we are totally opposed to any use of force or threat of force by others for any political purpose. We are totally opposed to punishment attacks."
He added that Sinn Fein in the executive would honour its pledge of office. This includes a commitment to non-violent and democratic means. Mr Adams noted that ministers who failed to live up to this commitment could be removed from office.
"Sinn Fein wishes to work with, not against, the unionists and recognises this as yet another imperative. For Sinn Fein co-operation and accommodation is the objective of this process.
"We reiterate our total commitment to doing everything in our power to maintain the peace process and to removing the gun for ever from the politics of our country," he added.
The Northern Secretary, Mr Peter Mandelson, expressed confidence that this deal would be seen through to a successful conclusion.
"I don't think people would have put their leaderships on the line were it not for the fact that they are seriously committed to making all aspects of the Good Friday agreement workable and properly implemented," he said in Portadown yesterday.
"I think this is serious. I think we are going places. This is for real, and I think people can feel a great deal of confidence in the sort of moves that are being made and the statements that are being issued this week."
The SDLP leader, Mr John Hume, in a statement said that the real work would only begin after the review was completed and the institutions of the Belfast Agreement were in place.
"The SDLP is determined that all the new political institutions will succeed not just in building new relationships but in making a real difference to the lives of all of our people.
"Last year with the Good Friday agreement and the referenda the parties and the people achieved an emancipation of hope. Our collective task now is to the emancipation of opportunity. There is no time to waste."
The Alliance leader, Mr Sean Neeson, urged the British government to establish the executive as quickly as possible.
Mr Billy Hutchinson of the Progressive Unionist Party, who is also the intermediary of the Ulster Volunteer Force with the decommissioning body, said his party would continue to work with the commission to "achieve this most honourable objective".
Ms Monica McWilliams of the Women's Coalition said she believed that IRA arms would be put "beyond use" by May 2000, the suggested date for decommissioning.
The Ulster Democratic Party, which is linked to the UDA, described this week's developments as positive and constructive.
"The review process is now providing a pathway whereby the twin goals of a stable executive and a resolution to the conflict are now achievable. It remains for the Northern Ireland political representatives to rise to the challenge," the statement added.
