Bush: 'Worth it to try' on Mideast peace

Bush said expectations of whether the Annapolis conference is a success or failure will be set over time, because "The negotiations between Israel and Palestine aren't going to occur in one week."

"Obviously, I am concerned about the consequences of a failed conference — or a failed process in this case. It's not just a conference, it's a failed process. On the other hand, it is worth it to try, because the Middle East needs to have the liberty agenda prevail."

Bush said a vision of the outlines of a Palestinian state would help settle the divide between Abbas' Fatah party and the militant Hamas movement that governs the Gaza Strip.

"One of the powers of having a state defined is that it'll serve as a catalyst to marginalize extremists who have no vision, at least they don't have a positive vision," he said. "What you're watching is the development of a state which becomes something that people like Abbas and reasonable moderate people can say `Support us and this is what you'll end up having, support the other bunch and you'll have war.'"

He said there was little possibility of a state, though, if the Palestinian territories remain divided between governance by Fatah and Hamas.

"There can be a vision for what a Palestinian state would look like," Bush said. "But it's going to be very difficult for that Palestinian state to come into being so long as there are terrorists who are able to exploit a weak government and launch attacks against their neighbors."

Video   Bush to hold Mideast summit Nov. 26: President Bush prepares for an historic meeting of Mideast leaders designed to jump start peace talks between Israel and the Palestinians. NBC's Kelly O'Donnell reports. MSNBC

In opening the high-stakes Mideast peace conference, Bush read a joint agreement among Israeli and Palestinian leaders who pledged to reach a peace pact by the end of 2008. Negotiations would begin within weeks to establish a democratic Palestinian state that will live alongside Israel.

Negotiations on the joint statement had broken down Monday night over one paragraph that the parties believed went too far into issues that are to be negotiated.

On Tuesday morning, Bush pulled Abbas and Olmert aside to impress upon them the need to issue a joint statement at the conference, and representatives from all three sides were dispatched from a larger meeting of the principals and their advisers to finish drafting it. They came to an agreement about 25 minutes later by simply taking out the disputed paragraph.

During the talks, Bush told Olmert and Abbas that their negotiations could change the course of history and that their courage would define the success of future negotiations. Bush told the leaders he was ready to intervene if they needed help: "I'm only a phone call away."

"We can cheer you on but we're not going to try and negotiate it for you," Bush told them. "You are going to have to do that."

Later, after the interview, Bush's national security adviser said the president is "committed" and "available" to help.

"And to the extent the parties think it's useful for him to have a role, he's prepared to play it, because he thinks this is a real priority, and an opportunity we don't want to miss," said the adviser, Stephen Hadley.

MORE FROM THE WHITE HOUSE

The White House Section Front

Obama wants ‘fat cat bankers’ to lend more Obama: Fate of war strategy evident in a year Obamas join stars for Christmas benefit concert Obama blasts banks on financial overhaul U.S. grapples with child hunger ‘epidemic’ Nobel in hand, Obama faces hard work at home White House: GOP 'rooting against' recovery Pelosi backs Medicare buy-in Obama's case for war in support of peace Accepting peace prize, Obama defends war The White House Section Front   Add The White House headlines to your news reader: