The focus of the meeting was said to be the reconstruction of war-torn Gaza, including how to disarm Hamas, which is labeled a terrorist organization.
A new governing authority is now in place for Gaza, with a clear mandate and a clear commitment to establishing development and stability, says the leader of the Gaza Transitional Authority, Ali Shaath, a former senior figure within the Palestinian Authority.
A police force will be trained in Gaza with the goal of deployment within 60 days, according to Shaath. Recruitment has reportedly already begun.
Indonesia, Morocco, Kazakhstan, Kosovo and Albania have agreed to send soldiers to the international peacekeeping force that will maintain the ceasefire in Gaza, according to US General Jasper Jeffers.
Warns Iran
Trump also addresses the US military buildup in the Middle East and tensions with Iran.
"We have to reach a meaningful agreement or bad things will happen," the president says of Iran, adding that the world will probably see how things go in the next ten days.
Trump, who is the chairman of the council, announces that nine countries have pledged seven billion dollars for the reconstruction of Gaza. This is still a fraction of the estimated $70 billion needed.
The United States will contribute ten billion dollars to the council, Trump says, without giving details on what the money will be used for.
"There is nothing more important than peace, and there is nothing cheaper than peace," he says.
Paying tribute to Orbán
Trump criticizes the UN for not achieving peace, but at the same time promises close cooperation. The UN will become stronger, he claims.
"The Peace Council will almost certainly oversee the UN and make sure it is functioning properly."
There has been a lot of uncertainty about Trump's council - what issues will be discussed and who will participate.
Among the council's 20 or so members are Qatar, Saudi Arabia, Pakistan, Israel, Egypt, Hungary and Belarus.
Most European allies, however, have rejected membership. Major players such as Germany, France and the UK have all declined. Sweden is not participating either. Some countries have only sent observers, including Finland.
