In his victory speech Barak says will undertake fateful decision regarding peace

In his victory speech, Israeli Prime Minister-elect Ehud Barak, leader of the Israeli Labor Party said he undertook necessary decisions for achieving peace.

He added that he will carry out his former promise of withdrawing the Israeli forces from south Lebanon within a year from the present.

He also said he will walk on the path of the late head of the Labor Party, Prime Minister Yitzhak Rabin, who will be his guide.

Palestinian President Yasser Arafat approved of Barak's victory and said he hopes that he helps in changing the Israeli leadership on reviving peace process.