Saudi Arabia's Foreign Minister Prince Saud bin al-Faisal on Friday urged the concerned sides to move effectively to implement the UN Security Council Resolution 1860 calling for an immediate ceasefire in the Gaza Strip.

Prince al-Faisal told an Arab foreign ministers' emergency meeting opened here Friday that the current stage needed to carry out the first of several steps to support the Egyptian efforts to provide mechanisms for the rapid implementation of the resolution.

UN Security Council, after days of diplomatic wrestling, adopted on January 8 resolution 1860 calling for an immediate ceasefire in Gaza" leading to the full withdrawal of Israeli forces."

The parties concerned should consider the feasibility of a return to the UN Security Council to adopt an executive resolution, urged the Saudi top diplomat, proposing to set up an Arab fund for the reconstruction of Gaza.

He, meanwhile, praised a Cairo initiative, proposed by the Egyptian President Hosni Mubarak, on ending ongoing conflict in Gaza, which calls for an immediate ceasefire for a limited period to allow humanitarian aid to reach Gaza and give Egypt time to continue its efforts to help reach a lasting truce.

Egypt would then invite both Israel and the Palestinians for negotiations and help resume the inter-Palestinian reconciliation talks, according to the proposal.

Arab foreign ministers kicked off the emergency meeting earlier on Friday, with the situation in the Gaza Strip, which has been under unprecedented Israeli attacks for 21 days, tops the agenda of the meeting.

The emergency meeting in Kuwait, the second of its kind in half a month, is discussing the Gaza offensive which Israel said was aimed at retaliating rocket attacks by the Islamist militant group Hamas which has been ruling the impoverished coastal enclave since June 2007.

The Israeli large-scale offensive, dubbed "Operation Cast Lead", has killed more than 1,133 Palestinians and wounded over 5,000 others since its beginning on December 27, 2008.