(BRUSSELS) - The European Union is preparing to back a major Middle East peace conference with new security and economic measures, according to a document obtained by AFP.

The document, entitled "Statebuilding for Peace in the Middle East: an EU Action Strategy", could be implemented if a peace conference scheduled to take place in Annapolis, Maryland by the end of the month is successful.

"The EU considers that the present opportunity should not be missed and is ready to take its responsibilities, in accordance with the vital European interests involved," the document said.

Under the plan, the EU would expand its existing police mission to train, equip and reconstruct the police force and prison facilities in the Palestinian Territories. It would be complemented by "wider support to the rule of law".

"If requested, the EU will be ready in due course to contribute to a system of security arrangements that would be agreed between the parties in the framework of a permanent settlement," the text said.

The 27-nation bloc would also be willing to intensify its work in the sectors of health and education, as well as with the judiciary.

The EU will also "build on" current support for the Palestinian private sector, including via credit guarantees, and help improve customs and trade.

The document said the bloc is "committed to supporting current efforts in a serious and substantive way, offering a comprehensive and coherent contribution to the process, including during the crucial implementation period."

EU External Relations Commissioner Benita Ferrero-Waldner, who drew up the text with EU foreign policy chief Javier Solana, refused to be drawn on how much money the package would involve.

"Now we are discussing politics, it is too early to discuss figures," she said, but underlined that the EU will have spent around one billion euros (1.45 billion dollars) on aid to the Palestinians this year.

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