The Norwegian Nobel Committee has decided to award the Nobel Peace Prize for 1994, in alphabetical order, to Yasir Arafat, Shimon Peres and Yitzhak Rabin, for their efforts to create peace in the Middle East.

For several decades, the conflict between Israel and its neighbour states, and between Israelis and Palestinians, has been among the most irreconcilable and menacing in international politics. The parties have caused each other great suffering.

By concluding the Oslo Accords, and subsequently following them up, Arafat, Peres and Rabin have made substantial contributions to a historic process through which peace and cooperation can replace war and hate.
In his 1895 will, Alfred Nobel wrote that the Peace Prize could be awarded to the person who, in the preceding year, "shall have done the most or the best work for fraternity between nations". The award of the Nobel Peace Prize for 1994 to Arafat, Peres and Rabin is intended by the Norwegian Nobel Committee to honour a political act which called for great courage on both sides, and which has opened up opportunities for a new development towards fraternity in the Middle East. It is the Committee's hope that the award will serve as an encouragement to all the Israelis and Palestinians who are endeavouring to establish lasting peace in the region.

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