( CNN ) -- Despite acknowledgment from the White House a day earlier that a peace deal between Israel and the Palestinians is unlikely before a new U.S. president takes office , Secretary of State Condoleezza Rice said Friday she is confident that ongoing efforts would produce success . Israeli Foreign Minister Tzipi Livni , right , and U.S. Secretary of State Condoleezza Rice speak Thursday . `` Carried to its state of conclusion , it will produce a state of Palestine , '' Rice , referring to negotiations in the wake of last year 's U.S. summit on Israel-Palestinian peace in Annapolis , Maryland , said at a joint news conference with Palestinian Authority President Mahmoud Abbas in Ramallah , West Bank . Rice is on her eighth trip to the region since the Annapolis summit . On Thursday , White House spokeswoman Dana Perino said the Bush administration does not `` think that it 's likely that it ( a peace agreement ) would happen before the end of the year . '' Rice said Friday that she realizes the lack of a peace agreement in the months following the Annapolis summit had caused some concerns that talks had stalled or might fail , but `` it 's quite the opposite -- the Annapolis process has laid the foundation for the eventual establishment for the state of Palestine . '' The purpose of her current trip , Rice said , was `` to advance the Annapolis process , '' and while she did not speculate on a timetable for the future of the process or offer specifics on peace talks , she added , `` I 've seen them move forward a great deal in the past year . '' Both Israeli and Palestinian officials have expressed doubts about achieving a peace agreement before President Bush leaves office , but until this week U.S. officials had been more optimistic in their public comments . Speaking in Israel on Thursday , Rice blamed part of the inability to secure a deal on recent political changes in Israel , which she noted is `` in the midst of elections . '' With Abbas on Friday , she emphasized that the commitment expressed by Abbas and Israeli Prime Minister Ehud Olmert when they signed an agreement to work toward a peace deal by the end of 2008 is still strong . `` I hope that the tremendous commitment ( by both sides ) is fully understood , '' Rice said . While Rice did not discuss any impact a new administration in Washington might have on the process , she said , `` The United States really does understand why the Palestinian people want unity . '' Israel in recent months has seen political upheaval . Olmert resigned in September amid allegations of corruption . Kadima Party leader and Israeli Foreign Minister Tzipi Livni gave up efforts to form a new coalition government late last month and is seeking to hold early general elections , which could be held in February , Livni 's spokesman has said . Olmert will continue to lead as Israel 's interim prime minister until a successor assumes power either by forming a coalition in the current Knesset or through general elections . However , it is unclear whether he will be able to strike a deal with the Palestinians before Israel forms its new government . Last month , Rice postponed a trip to a Middle East conference because of the global crisis in financial markets .
Ongoing process will result in Palestinian state , Condoleezza Rice says . Secretary of State Rice meeting with Middle East leaders . Recent political changes in Israel cited as one reason peace deal elusive . Israeli leader has resigned but will stay in office until successor assumes power .