Israeli President Shimon Peres (R) shakes hands with Likud Chairman Benjamin Netanyahu during a joint press conference in Jerusalem, Feb. 20, 2009. Peres officially entrusted Netanyahu with the task of building a coalition Friday afternoon, 10 days after the parliamentary election. [Xinhua/Yin Bogu]

Israeli President Shimon Peres officially entrusted the chairman of the right-wing Likud party Benjamin Netanyahu with the task of building a coalition, 10 days after the parliamentary election.

Peres said during a joint press conference at the Presidential Residence that Netanyahu has agreed to build the next government.

"Israel needs a stable government," the president added.

Netanyahu, who accepted the invitation, called on the leader of Kadima Tzipi Livni and the leader of Labor party Ehud Barak to work with him, adding "I urge all Knesset (parliament) factions to join me in coalition."

Netanyahu stressed that Iran has posed the biggest threat to Israel since its War of Independence, and that Israel also faces tough economic times ahead.

Israel's Likud Party Chairman Benjamin Netanyahu speaks during a joint press conference in Jerusalem, Feb. 20, 2009. Israeli President Shimon Peres officially entrusted Netanyahu with the task of building a coalition Friday afternoon, 10 days after the parliamentary election. [Xinhua/Yin Bogu]

Netanyahu, who was previously the 9th prime minister of Israel from June 1996 to July 1999, would then have 42 days to forge a coalition cabinet.

Peres held separate meetings with Netanyahu and Livni earlier in an effort to promote a broad national unity coalition that would include both Likud and Kadima.

However, Livni reiterated earlier that the centrist Kadima party will likely join the opposition and not sit in a right-wing coalition headed by Netanyahu.

"A broad coalition has no value if it does not lead the way," said the Livni, who is also Israeli foreign minister, after meeting with Peres.

Netanyahu, who met with Peres shortly before Livni, told the president that he understood the need for a unity government.

"Immediately after you task me with forming the coalition, I will invite Kadima for negotiations," said the Likud leader. "I'm willing to go far in order to establish such a government."

It is reported by local media that Netanyahu would be willing to give Kadima several senior portfolios in his cabinet.

After the consultations with Knesset representatives on Wednesday and Thursday, Peres found a majority of 65, all the right-wing and religious factions, supporting Netanyahu to form the coalition.

Meanwhile, Livni garnered the support of the 28 members of her own party. Labor, Meretz and the Arab parties chose not to recommend any candidate to Peres.

Kadima edged out Likud in the Feb. 10 election, capturing 28 seats to Likud's 27, out of 120. But Likud is in a better position to put together a coalition because of gains by the far-right party of Yisrael Beiteinu and other hard-line parties.

(Xinhua News Agency February 21, 2009)