To exploit this unprecedented opportunity, the world community must build upon and go beyond UN Security Council Resolution 1701 in a fair, even-handed, unbiased manner by establishing an immediate region-wide Middle East Peace Conference with the following objectives:

 Creation of a contiguous, viable Palestinian state comprised of the West Bank, Gaza Strip, and East Jerusalem with mutually-beneficial land exchanges that do not materially compromise the essence of these characteristics, areas and existing UN resolutions, notably 242 and 252, to name a few

 Repatriation of the Shebaa Farms and Golan Heights

 Recognition of each other’s right to exist, defined borders and respective sovereignty with an internationally guaranteed security umbrella covering each and every Middle Eastern nation from acts of aggression, and the

 Unconditional release of all prisoners regardless of their nationality, status, and role in the decades-long conflict

As a good-faith effort, the Beirut government and Hezbollah could take a significant step in establishing the “Lebanese sovereignty” that Israel and the United States demands in U.N. Security Council Resolutions 1559 and 1701. Prime Minister Fouad Siniora and Hezbollah leader Hassan Nasrallah could agree to merge their forces, in which Hezbollah’s soldiers with their battle-tested strength and courage, could serve as the back-bone of the nation’s military with the latter, regarded as a hero in much of the Middle East, serving as Defense Minister. At the same time, Hezbollah as an elected representative party and part of the country’s “national fabric”[1] would continue to serve in the Lebanese government bringing the nation her first real unity since the 1975-1990 civil war.

Tehran’s recent expressed willingness for “serious” negotiations regarding her nuclear research and development also enhance this new opportunity. If the world community plays their cards right – creating a nuclear-and-weapons-of-mass-destruction-free Middle East, in which Israeli compliance too, would be mandated, the prospects of Iranian acceptance will be enhanced since Tehran as well as other Middle Eastern states, would be deprived of their key defense: Creating a credible counterbalance to Israel’s unconventional dominance to defend their respective sovereignty and citizens from intimidation and/or attack.