Palestinian and Israeli leaders have agreed an Egyptian-brokered ceasefire which appears to be holding following seven weeks of fighting. More than 2,000 Palestinians and 70 Israelis have been killed in the conflict in Gaza.
Further talks aimed at securing a permanent peace deal will take place in Cairo next month.
More complex issues, including Hamas' demand to reopen Gaza's airport and seaport, are expected to be discussed then.
Thousands of residents in Gaza City took to the streets to celebrate the new ceasefire, which was announced yesterday after talks in Egypt.
Israel has agreed to ease the blockade on Gaza, extend the fishing rights of Gazans and open the border crossings for more aid and supplies.
Under the terms of the truce, Israel will ease restrictions on imports to Gaza - including aid and material for reconstruction.
It will also expand the area open to Palestinian fishermen from three to six nautical miles.
Hamas has demanded the start of building works on a seaport and airport, but Israel says it will only allow that to happen if the group disarms - a call which has been rejected.
The United Nations has welcomed the truce, while Foreign Affairs Minister Charlie Flanagan said there seems to be real hope that this agreement could finally end a terrible chapter of violence and terror for people in the region.
"We have been disappointed before, but there seems real hope that this agreement could finally end a terrible chapter of violence and terror for people especially in Gaza, and also in Israel, which everyone in Ireland has watched with horror and frustration," he said.
"Despite these earlier setbacks, I have been encouraged by recent signs that both sides were seeking an end to this confrontation."
"While there is an obligation on both sides to reach an accommodation, it is also the responsibility of the international community to be proactive in facilitating a long term solution."
"The Irish government remains committed to a two-state solution; with a viable Palestinian state and a secure Israel," he added.
The UN Relief and Works Agency (UNRWA) Commissioner-General Pierre Krähenbühl said "We call on the international community to help us ensure that all affected families receive the necessary support and dignified living conditions in the midst of the tragedy caused by this conflict."
UNRWA is seeking a total of US$295.4m (€224.1m) to deal with the aftermath of the crisis.
Immediate needs include the continued provision of water, food and non-food items such as hygiene kits that help prevent the outbreak of diseases. Other priorities include primary health care and psychosocial support, UNRWA says.
More than 20,000 homes are estimated to have been rendered uninhabitable. Vital water and sanitation infrastructure has been damaged, with at least 40% of the water supply network unusable as of August 22nd.
UNRWA spokesman Chris Gunness has given a cautious reaction the to ceasefire.
