Renewing negotiations with the Palestinian Authority is a “vital” Israeli interest, Prime Minister Binyamin Netanyahu said on Saturday, a day after an agreement was announced for the basis to resume talks.

“The resumption of the peace process is a vital strategic interest of the state of Israel,” Netanyahu said in a statement.

“It is important on its own to try to bring an end to the conflict between us and the Palestinians, and is important because of the challenges facing us, especially from Iran and Syria,” he said.

US Secretary of State John Kerry said on Friday that Israeli and Palestinian negotiators will meet in Washington in the near future after an agreement was reached on the basis to resume peace talks.