Yemeni Foreign Minister Abu Bakr al- Qerbi affirmed on Wednesday that a political solution of power transfer would be reached soon between the government and the opposition, state-run Saba news agency reported.

"The ongoing efforts between the government and the opposition are concentrated on reaching an agreed mechanism to implement the Gulf Cooperation Council (GCC) initiative to peacefully transfer power (from President Ali Abdullah Saleh)," al-Qerbi was quoted as saying by Saba.

Al-Qerbi made the remarks during a meeting here with the U.S. ambassador to Yemen Gerald Feierstein and the EU envoy Michele Cervone d'Urso.

Saleh, who has been in office for 33 years, has confronted ten- month-long protests demanding his stepping down.

The GCC initiative, which was brokered in April, stipulated Saleh to quit in 30 days and hand over power to his deputy Abd Rabbu Mansour Hadi, who would then form an opposition-led national government and arrange presidential elections in 60 days. Saleh has backed out of signing the deal three times in the last minute.

On Tuesday, d'Urso told Saba that the ruling party and the opposition are about to reach a deal to bring the country into a new stage based on the GCC initiative and the UN resolution for transferring power from Saleh to Hadi.

"The situation in Yemen is moving through a new phase after the issuance of the UN Security Council Resolution 2014," d'Urso told Saba.

"We hope that Eidal-Adha (Muslim holiday) will be an occasion to announce that Yemen has moved towards a new stage," d'Urso said.

On Sunday, the ruling party said it would announce Vice President Hadi as its candidate for the presidential election proposed to be held after Saleh signs the GCC initiative.

The resolution 2014, which is unanimously passed by the 15- nation security council on Oct. 21, called on Saleh to end violence and sign the GCC deal to transfer power peacefully.