Colombian President Juan Manuel Santos offered Wednesday to declare a bilateral ceasefire with the FARC guerrillas from January 1, which would mark a major breakthrough in peace talks.

Santos offered the Revolutionary Armed Forces of Colombia (FARC) a "bilateral, internationally monitored ceasefire" as part of their nearly three-year-old peace negotiations. The rebels, who have been observing a unilateral ceasefire since July, have repeatedly insisted the government reciprocate with a bilateral truce.