Spanish Foreign Minister José Manuel Albares said on Friday that the steps taken towards recognizing the state of Palestine are "important but not sufficient."

This came at a press conference in the capital, Madrid, prior to the meeting of the contact group formed by the Organization of Islamic Cooperation and the Arab League regarding developments in the occupied Palestinian territories.

During the press conference, Minister Albares said that "the two-state solution (Palestinian and Israeli) is the only solution for peace and stability in the region."

He stressed that "a peace process must be launched under the auspices of the United Nations and the parties must be obligated to participate in it."