President Donald Trump declared Monday a "historic day" for "eternal" peace in the Middle East following a meeting with Israeli Prime Minister Benjamin Netanyahu at the White House.

"So, this is a big, big day," Trump said. "A beautiful day, potentially one of the greatest days ever in civilization. Things that have been going on for hundreds of years and thousands of years. We're going to at least we're at a minimum, very, very close. And I think we're beyond very close.

"And I want to thank Bibi. … We've worked well together, as we have with many other countries, both of us with many other countries, which is the only way this whole situation gets solved. And I'm not just talking about Gaza. Gaza is one thing, but we're talking about much beyond Gaza. The whole deal, everything getting solved. It's called peace in the Middle East.

Earlier Monday, the White House Trump’s principles for peace, which Trump said Netanyahu had agree to but not Hamas.

"I’m hearing Hamas wants to get this done too, which is a good thing," Trump said.

The key focus of the peace proposal, pending approval, would turn Gaza into "a deradicalized terror-free zone that does not pose a threat to its neighbors." Gaza will be redeveloped "for the benefit of the people of Gaza, who have suffered more than enough."

Upon agreement, the war will immediately end. Israeli forces will withdraw to the agreed upon line to prepare for a hostage release. All military operations, including aerial and artillery bombardment, will be suspended, and battle lines will remain frozen until conditions are met for the complete staged withdrawal.

"So today is a historic day for peace," Trump said. "And Prime Minister Netanyahu and I have just concluded an important meeting on many vital issues, including Iran trade, the expansion of the Abraham Accords. And most importantly, we discussed how to end the war in Gaza. But it's just a part of the bigger picture, which is peace in the Middle East. And let's call it eternal peace in the Middle East.

"So, this is a far more than anybody expected, but the level of support that I've had from the nations in the Middle East and surrounding Israel, and neighbors of Israel has been incredible, incredible. Every single one of them."

Within 72 hours of Israel publicly accepting this agreement, all hostages, alive and deceased, will be returned. Once all hostages are released, Israel will release 250 Palestinian prisoners serving life sentences plus 1,700 Gazans who were detained after Hamas’ terrorist attack on Oct. 7, 2023, including all women and children. For every Israeli hostage whose remains are released, Israel will release the remains of 15 deceased Gazans.

Hamas is believed to be holding 48 hostages, 20 of whom are believed by Israel to be alive. The terrorist group has demanded Israel agree to end the war and withdraw from all of Gaza as part of any permanent ceasefire.

Once all hostages are returned, "Hamas members who commit to peaceful co-existence and to decommission their weapons will be given amnesty. Members of Hamas who wish to leave Gaza will be provided safe passage to receiving countries."

The deal also calls for full humanitarian aid to be immediately sent into Gaza. At a minimum, aid quantities will be consistent with a Jan. 19 agreement regarding humanitarian aid, including rehabilitation of infrastructure (water, electricity, sewage), rehabilitation of hospitals and bakeries, and entry of necessary equipment to remove rubble and open roads.

Entry of distribution and aid in Gaza will proceed without interference from the two parties through the U.N. and its agencies, and the Red Crescent, in addition to other international institutions not associated with either party. Opening the Rafah crossing in both directions will be subject to the same mechanism implemented under the Jan. 19 agreement.

Gaza will be governed under the temporary transitional governance of a technocratic, apolitical Palestinian committee, responsible for delivering the day-to-day running of public services and municipalities for Gazans.

This committee will be made up of "qualified Palestinians and international experts, with oversight and supervision by a new international transitional body, the "Board of Peace," which will be chaired by Trump, with other members and heads of state to be announced, including former British Prime Minister Tony Blair.

This body will set the framework and handle the funding for the redevelopment of Gaza until such time as the Palestinian Authority has completed its reform program, as outlined in various proposals, including Trump’s peace plan in 2020 and the Saudi-French proposal, and can securely and effectively take back control of Gaza. This body will call on best international standards to create modern and efficient governance that serves the people of Gaza and is conducive to attracting investment.

A Trump economic development plan to rebuild and energize Gaza will be created by convening a panel of experts who have helped birth some of the thriving modern miracle cities in the Middle East. Many thoughtful investment proposals and exciting development ideas have been crafted by well-meaning international groups and will be considered to synthesize the security and governance frameworks to attract and facilitate these investments that will create jobs, opportunity, and hope for future Gaza.

A special economic zone will be established with preferred tariff and access rates to be negotiated with participating countries. No one will be forced to leave Gaza, and those who wish to leave will be free to do so and free to return.

"We will encourage people to stay and offer them the opportunity to build a better Gaza," the proposal states.

Hamas and other factions agree to not have any role in the governance of Gaza, directly, indirectly, or in any form. All military, terror, and offensive infrastructure, including tunnels and weapon production facilities, will be destroyed. There will be a process of demilitarization of Gaza under the supervision of independent monitors, which will include placing weapons permanently beyond use through an agreed process of decommissioning, and supported by an internationally funded buy back and reintegration program all verified by the independent monitors. New Gaza will be fully committed to building a prosperous economy and to peaceful coexistence with their neighbors.

Regional partners will provide a guarantee to ensure that Hamas, and the factions, comply with their obligations and that Gaza poses no threat to its neighbors or its people.