US President Donald Trump and the leaders of Egypt, Qatar, and Turkey have signed a declaration for bringing peace to Gaza at a summit in the Egyptian resort of Sharm el-Sheikh.

A new and beautiful day is rising and now the rebuilding begins, said Trump, praising regional leaders who helped cement the truce between Israel and Hamas.

Earlier, in his address to the Israeli parliament, the Knesset, the president told cheering lawmakers that the long and painful nightmare is finally over.

Israel is releasing 250 Palestinian prisoners and more than 1,700 other Palestinians detained during the two-year military operations in Gaza in exchange for the last 20 living Israeli hostages held by Hamas.

The exchange, the first phase of Trump's peace plan, is also due to include the return of the bodies of 28 dead Israeli hostages. In Egypt, Trump was all smiles in the company of Egyptian President Abdul Fattah al-Sisi and more than 20 other leaders from around the world.

Everybody's happy, Trump said, adding that he had done big deals before but this has taken off like a rocket ship.

Trump provided insight into some of his recent conversations with Israeli Prime Minister Benjamin Netanyahu, mentioning that he felt the Israeli military campaign in Gaza was becoming bad and heated.

Reflecting on the peace agreement in the Knesset, Trump suggested that the region was experiencing the historic dawn of a new Middle East and described the ceasefire he brokered as a breakthrough, marking a significant change after centuries of conflict in the region.

This historic moment is expected to reshape relations in the Middle East, with future phases of the peace plan still underway, as Trump indicated that negotiations would continue.

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