Yangon, May 4 (IANS): Myanmar President U Thein Sein on Monday said the government is ready to finalise a nationwide ceasefire agreement.

With all parties accepting that the only way to resolve armed conflict is through a political solution, U Thein Sein pledged to the nation of starting a political dialogue as soon as possible, Xinhua news agency reported.

Stressing that the upcoming 2015 general election will be a defining moment for the country's democratic transition, he urged political parties and the general people to do what they can to ensure the successful holding of the election and the success of democratic reform.

Myanmar ethnic leaders' summit kicked off in Panghsang, the self-administered zone of the Wa ethnic group in northern Shan state, last Friday to discuss and seek adoption of a draft nationwide ceasefire accord (NCA).

The draft NCA was preliminarily signed between peace negotiators of the government and ethnic armed groups in March.

The agreement is yet to be formally signed after approval from top leadership of both sides.