Speaking at a ceremony in Oklahoma in the US, where he received an award for his peace work, Fr Reid said the communities of Northern Ireland do not want a return to violence.
''The Sinn Féin leader Martin McGuinness and the Unionist leader Peter Robinson, representing the two extremes of the conflict, are working together for the welfare of all the people of Northern Ireland.
''The latest troubles do not cause me fear, but I am concerned at the loss of life. I am satisfied that the process is progressing well and I still take an interest in events. Even if there is peace you still have to monitor the situation,'' he said.
Fr Reid said the only way to settle political conflict is through dialogue. ''There is no other way to settle these issues except through dialogue between all the parties. That is the lesson we learned in the Irish peace process and it can be successfully applied on a global level. Dialogue has the power to settle all political conflicts in a way which safeguards the rights and human dignity of all parties.''
Fr Reid was presented with the Reflections of Hope Award in Oklahoma, which honours a person or organisation who have made a difference in the midst of tragedy and political chaos.
The award commemorates the Oklahoma City bombing, when a government office complex was attacked in 1995, killing 168 people and leaving 800 injured.
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