RAMALLAH, April 12 (Xinhua) -- Palestinian President Mahmoud Abbas is ready to meet Israeli Prime Minister Benjamin Netanyahu when the latter recognizes the basis of the peace process, a spokesperson for Abbas said Thursday.

"The Palestinian side has no problem to hold bilateral and direct meetings with the Israeli side if they were based on a clear reference so we know on what basis and mechanisms we are negotiating," Abbas' spokesperson Nabil Abu Rdineh told Voice of Palestine Radio.

Abu Rdineh was commenting on an Israeli statement that Netanyahu intends to invite Abbas for a direct meeting. The statement was issued by Netanyahu's office.

The references would be Israel's commitment to the peace process with a full, complete and comprehensive halting of settlement building in the West Bank, Abu Rdineh said. Israel should also release all Palestinian prisoners before any direct negotiations start. "Without this, things will continue rotating into an endless circle without any result."

The peace talks stopped between the two sides in October 2010 due to disputes over settlement in the West Bank and East Jerusalem.

The Israeli and Palestinian statements came after the Quartet of Middle East peace players called on the two sides to resume stalled negotiations. The call was made Wednesday after members of the Quartet, which comprises the United States, the United Nations, the European Union and Russia, met in Washington, D.C..