The head of Israel's left-wing Meretz party, Knesset (parliament) member Zehava Gal-On introduced her party's draft for a new peace plan with the Palestinians on Tuesday.

The plan is offered as a substitute for the 1993 Oslo Accords, setting a new timetable to end the conflict between Israel and the Palestinians.

The plan includes Israel helping Palestine to be accepted as a member of the United Nations and be the first country to publicly recognize it.

Also, the plan suggests that Israel would declare without setting any preconditions that the conflict's resolution must be based upon ending the occupation on the 1967 borders and land swaps.

It demands immediate freeze on settlement activity and allocates not more than a year for the talks to take place between the parties.

The plan also calls upon Jerusalem to be divided based on former U.S. President Bill Clinton's proposal -- Jewish neighborhoods to Israel, Palestinians neighborhoods to Palestine and a special statue for the Holy Basin.

"Without determining who's to blame for what happened in the past, we must change the twenty year old accords by a new paradigm, " Gal-On told the Ha'aretz daily.

"A Palestinian state is in Israel's interest, so it must be the first to recognize it and support its acceptance by the UN," she added.

Gal-On charges that such a plan could prevent another armed conflict within Israel and prevent a unilateral declaration of a state by the Palestinian National Authority (PNA).

"It would also help mobilize a coalition against Iran's nuclear weapons," she said.