"This meeting takes place in a moment when difficult and bold decisions need to be made," Ashton said in a statement today.
Ashton said she will be joined tomorrow on the sidelines of the Munich Security Conference by UN Secretary General Ban Ki-moon, US Secretary of State John Kerry, Russian Foreign Minister Sergei Lavrov and former British prime minister Tony Blair, envoy for the so-called Quarter helping to shepherd the fragile peace process -- which includes the EU in addition to the UN, US and Russia.
"The dividends of peace for Israelis and Palestinians are enormous," Ashton said.
"I hope that together we can help those (bold) decisions to become a reality to continue working towards a negotiated peace agreement, setting an end to the conflict and fulfilling the legitimate aspirations of both parties.