In his speech at the Arab League Summit in Kuwait last Tuesday, Palestinian president Mahmoud Abbas addressed the subject of peace and said that the Palestinians are eager to achieve peace with Israel. 
The Palestinian President praised the United States for its contribution to the renewal of the peace process, and added that Israel created difficulties and "thwarted the American efforts."
Abbas claimed that the most recent obstacle presented by Israel is Israeli Prime Minister Benjamin Netanyahu's demand that the Palestinians acknowledge Israel as a Jewish state. Abbas stresses that the Palestinians "refuse to discuss" this demand. According to the Kuwaiti press agency KUNA, the Palestinians demand a sovereign state whose capital is East Jerusalem according to the June 4, 1964 borders, preceding the Israeli occupation of the West Bank.
Afterwards, the Palestinian president thanked Saudi Arabia for its 200 million USD donation to the Palestinian National Authority (PA), and encouraged the other Arab countries to help.
Emir of Qatar, Sheikh Tamim bin Hamad Al Thani, pledged in his speech to help the PA by setting up a 250 million USD fund. Furthermore, the Sheikh reiterated his suggestion to establish a small Arab League to discuss a solution to the conflict between the Fatah movement, which rules over the PA, and Hamas, which reigns over the Gaza Strip.

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Mahmoud Abbas: The Palestinians are eager to achieve peace with Israel