European Union foreign ministers will hold separate talks with their Israeli and Palestinian counterparts to discuss prospects for permanent peace and present a 10-point plan for peace between the two parties.

The 27 European Union ministers will meet with Israeli Foreign Minister Israel Katz, before meeting separately with Palestinian Foreign Minister Riyad al-Maliki.

Both Katz and Al-Maliki will also deliver separate speeches before the European Union Foreign Affairs Council meeting in Brussels today, which will also be attended by their counterparts from Saudi Arabia, Jordan, Egypt, and the Secretary-General of the League of Arab States.

During the meeting, European Union foreign policy chief Josep Borrell will present a ten-point plan for peace between Israel and the Palestinians.

The plan calls for holding a "preparatory conference for peace" organized by the European Union, Egypt, Jordan, Saudi Arabia and the League of Arab States, with the United States and the United Nations invited to the conference.

The conference will go ahead even if the Israelis or Palestinians refuse to participate.

But the document indicates that both sides will be consulted at every step of the talks as delegates seek to develop a peace plan.

The internal document seen by Reuters explains that one of the main goals of the peace plan must be the establishment of an independent Palestinian state “living side by side with Israel in peace and security.”

In a letter to member states, Borrell wrote that his roadmap would “address in detail, with practical proposals, the agreed-upon principle that only a sustainable and long-term political solution to the Israeli-Palestinian conflict will bring peace and stability to the two peoples and the region.”

Borrell's plan calls for full normalization between Israel and the Arab countries, and will create "an initial framework for Israeli-Palestinian peace within one year. There will be strong security guarantees for both states, and the agreement will be conditional on full mutual diplomatic recognition and integration between Israel and the Palestinians in the region."

Given the division, the 27 EU member states are unlikely to support Borrell's road map.

A senior EU official said there were no expectations of any breakthroughs, adding: “The idea is to have a full discussion with all participants, Israelis, Palestinians and Arabs, to exchange views and try to better understand where everyone is.”