CAIRO - As celebrations continue, concerns over Egypt's future have been raised among not only Egyptians but also the whole world, as Egyptian President Hosni Mubarak resigned from his post and handed his power over to the military.

The Egyptian military reaffirmed on Saturday a peaceful transfer of power to a civilian and elected government, vowing that they would respect all international, regional and local treaties, including a 1979 peace treaty, a step that was received with great relief from neighboring Israel.

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Thousands of Egyptians still celebrate in Tahrir Square with music and fireworks. Protesters urged the army to meet other demands, including the dissolution of parliament and an end to the 30-year-old state emergency law.

Al Arabiya TV reported on Friday that the army would dismiss cabinet and suspend the parliament, and that the head of the constitutional court would join the country's leadership to run Egypt.

However, the military declared on Saturday that the current government will be the caretaker for the interim period until another government is formed.

On Saturday night, Mohammed Hussein Tantawi, head of the military council held talks with Prime Minister Ahmed Shafiq for immediate restoring normality. He also met the interior minister Mahmoud Wagdy to discuss the redeployment of the police forces who left the streets on January 28 amid massive protests.

Tantawi also met the head of the constitutional court and the justice minister to discuss legal issues which could bring constitutional legitimacy and justice that the Egyptians have been calling for.

The world countries agree that the fall of Mubarak's regime will usher in a new era in the Middle East in general, while expressing concerns over the future of the country and the Middle East.

US President Barack Obama said that the United States will continue to be a friend and partner of Egypt, adding that Egypt will never be the same again.

The European Union said that they respected President Mubarak's decision as he listened to the voices of the Egyptian people and has opened the way to faster and deeper reforms.

The Arab world in all urged a peaceful transition of power which could guarantee Egyptians be able to make reforms.

Meanwhile, some analysts say that Mubarak's resignation might push Israel to become more self-centered, seeking its own security above all issues.

"Egypt is a genuine partner for the Palestinian people in their struggle to reach freedom and independence," said Yasser Abed Rabbo, the Secretary General of Palestine Liberation Organization (PLO).

"We don't have any doubt that Egypt will remain a main supporter to the Palestinian people," Abed Rabbo added.

The Egyptian demonstrations shock the Arab world for the second time after the Tunisia's popular protests.

In Algeria, opposition leaders said on Saturday that about 5,000 people attended the demonstration in Algerian capital Algiers, while a statement previously issued by the Ministry of Interior estimated the presence of 250 protesters.

In Yemen, thousands rallied in the Yemeni Capital of Sanaa, calling on President Ali Abdullah Saleh to step down.