It's important to understand that the land the nation of Israel possesses (the Promised Land) is God's land.  God says this: "For behold, in those days and at that time, when I bring back the captives of Judah and Jerusalem, I will also gather all nations, and bring them down to the Valley of Jehoshaphat; and I will enter into judgment with them there on account of My people, My heritage Israel, whom they have scattered among the nations; they have also divided up My land."¹

When God made a covenant with Abram (Abraham) around the second Millennium BC, He told Abram that his descendants (the Jewish people) would be given a land of their own.  It would stretch from the river of Egypt (believed to be a small stream south of Gaza now known as the Wadi el Arish) to the great river, the Euphrates. This land encompassed the lands of the Kenites, Kenizzites, Kadmonites, Hittites, Perizzites, Rephaites, Amorites, Canaanites, Girgashites and Jebusites of that day.²

The West Bank and Gaza (lands given to the Palestinian people, by Israel, in an attempt to bring about peace in the Middle East) are a part of the land promised to the Jewish people by God; a land that God has given them as an everlasting inheritance.³

Although the Jewish people, at times, have not been in control of their land, never the less, the land that makes up the Promised Land has been promised to them by God.  This being so, the land should not be divided up and given away.  In fact, we see in the Old Testament book of Joel that God does not look favorably on the Promised Land being divided up by the nations.⁴

Sadly, much death and turmoil has occurred in the Promised Land over who will possess the land.  For Israel to give away land however, in an attempt to bring about peace in the Middle East, is not the answer; God has given the Promised Land to the Jewish people as an everlasting inheritance and He doesn't want it divided up among the nations.

Bible References:

¹ (Joel 3:1-2)

² (Genesis 15:18-21)

³ (Genesis 17:8)

⁴ (Joel 3:1-2)