Both said the agreement constituted a major breakthrough, although several key details are still to be worked out in the coming weeks and months. They did not release the text of the accord, but said it dealt with issues like property rights, access to land and rural infrastructure development.
"This agreement will be the start of a radical transformation of the countryside," read yesterday's joint communique.
The two sides have stressed that no concessions are final until a complete peace accord is reached. But for one day, at least, the long-time enemies seemed optimistic an important step had been taken toward ending the half-century long conflict.
"Today we have a real opportunity to attain peace through dialogue," said the government's chief negotiator, Humberto de la Calle. "To support this process is to believe in Colombia."
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Colombian President Juan Manuel Santos added in a tweet sent from Bogota: "We celebrate, truly, this fundamental step taken in Havana toward a full agreement to put an end to half a century of conflict."
The rebels say some land has also been expropriated by the government fraudulent and corrupt processes, while the government says the FARC has also illegally forced people off land. Much of the land wound up in the hands of wealthy ranchers and drug traffickers, or was laundered and sold on to agribusinesses.