The accord, announced in Havana, Cuba, on Wednesday, requires the Colombian government to carry out substantive land reform and overhaul its drug trafficking policies. It also requires Bogota to expand state services into rural sections of the country.
"There is no room for winners or losers when you achieve peace through negotiations," FARC negotiator Rodrigo Granda tweeted. "Colombia wins, death loses."
The agreement must be approved by voters in a plebiscite before it can take effect. A vote is expected to take place in October. Negotiations were finalized on Tuesday.
FARC is one of the world’s oldest Marxist insurgencies, formed in 1964 when it launched a war to overthrow the government of Colombia and install a revolutionary regime. Since fighting began, over 220,000 people have been killed, and another 5 million forced to abandon their homes.