Security Council member Jordan called the meeting of the Arab Group at the United Nations to discuss the new draft that lays out a time frame to reach a final peace deal with Israel.
"We want to discuss with the Arab Group the amendments that the Palestinians are proposing to the resolution ... and to see when is a good time to pass to a vote," Jordanian Ambassador Dina Kawar told reporters.
The draft resolution was formally presented to the council less than two weeks ago but the United States said it would not support the text.
The resolution sets a 12-month deadline to wrap up negotiations on a final settlement and calls for Israel to complete a withdrawal from Palestinian territories by the end of 2017.
The deal would pave the way for the creation of a Palestinian state with Israel sharing Jerusalem as its capital, according to the text.
Arab ambassadors were to decide on whether to seek a vote at the Security Council this week, possibly as early as Tuesday, Jordanian and Palestinian diplomats said.
But with five new members who have a pro-Palestinian stance joining the Security Council on January 1, the ambassadors may decide to hold off on a vote until next month.
The Palestinian push for statehood as part of a final peace deal with Israel comes amid mounting international alarm over the ongoing violence and the failure to re-start negotiations.
Israeli troops shot dead a 17-year-old Palestinian boy in the occupied West Bank during a stone-throwing incident Monday near the northern city of Nablus, sources on both sides said.
Several European parliaments have adopted non-binding motions calling for recognition of Palestine and the United Nations has warned of a possible return to war unless peace efforts are revived.
The United States, Israel's main ally, has said it will not support a UN resolution that sets a deadline for the withdrawal of Israeli security forces.
Washington called for further consultations on a UN resolution and the Palestinians said they were open to negotiations to try to reach a consensus among the 15 council members.
Angola, Malaysia, New Zealand, Spain and Venezuela begin their two-year stint at the council on January 1, replacing Argentina, Australia, Luxembourg, Rwanda and South Korea.
The shift is seen as more favorable to the Palestinians, although the United States, as one of the five permanent council members, could use its veto to block the measure.
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