The new deal will be put to Congress rather than a popular vote.
Simple economics will be one of Colombia's biggest problems as it seeks to eliminate illegal drug production with the help of FARC rebels.
The two sides said they had reached an agreement to end the conflict and build a stable peace.
Bogota agrees compensation deal with rebels for victims of a decades-long civil war.
The two sides could be near a pact on the terms of confinement for ex-combatants who would be tried in special tribunals.
The guerilla group has invited the Colombian-born Miss Universe to peace talks in Havana.
The killer guerrillas in Colombia miss their moms -- a chink in their rough-and-tough image that the government is exploiting.