Joint resolution to urge the preservation of Israeli sovereignty and territorial integrity and continued friendly relationship with the Arab nations in the Middle East through a balanced settlement of the present conflict.

Makes it the sense of the United States Congress that the President should mediate between the belligerent parties to bring about an immediate and long-term peace settlement. Provides that such a peace should consider all the political and economic realities of the region, including the territorial integrity of all states involved, the need of Israel for protective buffer zones, the Arab aspiration for the return of their territories, and the long-term development of a sound economic base for the elimination of social and political problems.

Provides that the settlement should include: (1) an immediate cease-fire; (2) broad demilitarized zones on the borders between Israel and its neighbors; (3) reestablishment of the civilian administration of the Sinai and Golan areas and west bank of the Jordan River under Egypt, Syria, and Jordan after thirty days, and maintenance of the demilitarized zones; (4) the cooperation of major free market countries and the Arab world in a long-range program of technical and industrial investment and development, with special emphasis upon the creation of job opportunities for Palestinian refugees; and (5) the negotiation and signing of a permanent peace treaty within eighteen months after the cease-fire.