U.S. President Barack Obama says there can be “no shortcut” to the Israeli-Palestinian peace process, as French President Nicolas Sarkozy proposes a timetable of up to one year to solve the conflict.

Both leaders took the podium at the U.N. General Assembly Wednesday as Palestinian leaders prepared to submit their application for full U.N. membership to the Security Council on Friday.

Mr. Obama said he is frustrated by delays in the peace process, but continues to believe the dispute must be solved through negotiations between the Israelis and Palestinians, and not at the United Nations.

Mr. Sarkozy says after 60 years of failed attempts at the Israeli-Palestinian peace process, it's time to change the tactics. He proposed the resumption of peace talks in one month, an agreement on borders in six months and a final deal in a year. But he said there must be no preconditions on either side.

He also proposed an upgrade in the Palestinian government's U.N. status from that of observer to non-member status, a change that requires only a simple majority vote in the 193-member General Assembly.

In his remarks Mr. Obama did not address the issue of U.N. observer status to non-member status for the Palestinians. He also stopped short of urging the Palestinian government to drop their full membership bid. But he did speak of the United States' “unshakeable” commitment to Israel. He then went to meet with Israeli Prime Minister Benjamin Netanyahu, where he reaffirmed the U.S. commitment to Israel's security. Mr. Obama will meet with Palestinian President Mahmoud Abbas later in the day.

Sweeping changes in the Middle East and the global economic crisis also dominated the opening session of the U.N. General Assembly's annual debate.

Mr. Obama said it has been a year of “seismic” democratic change in the Arab world. He said in the aftermath of the so-called “Arab Spring,” U.N. members “have more work to do” to help nations rebuild.

Mr. Obama said the “unprecedented mandate” to intervene in Libya is an example of what international cooperation can achieve, and said efforts by the U.N. and Arab League prevented what could have been a “massacre” during the nation's political unrest earlier this year.

He called for sanctions on the Syrian regime, saying the Syrian people have shown dignity and courage in their pursuit of justice.

President Obama praised developments in South Sudan, where a successful referendum has resulted in self-determination for the new African nation. And he noted that efforts by the U.N. Security Council in Ivory Coast have helped move the country from political crisis to a democratically elected government.

Mr. Obama also singled out threats to global security, like nuclear weapons. He called for isolation and greater pressure on Iran and North Korea for misuse of their nuclear weapons programs.

U.N. Secretary-General Ban Ki-moon urged leaders to support nations transitioning to democracy in the Arab world.

Brazilian President Dilma Rousseff on Wednesday became the first woman in U.N. history to open the general debate portion of the assembly. In her speech, she said she is confident that this will be the “century of women.”