The agreement, signed Thursday in Kenya, stipulates the formation of a new transition government for a five-year term; a parliament with 275 members instead of the previously set 350; and a new federal Constitution to be approved by popular referendum.
The peace agreement sanctions and guarantees the application of the cease-fire reached in October 2002 but not respected. At least 300 people have died in recent months in fights among the factions.
A census must be conducted prior to the referendum. Estimates of the population vary from 8 million to 10 million.
The agreement was signed by the Transition National Government, which controls only part of Mogadishu; the National Salvation Councils; and the Council of Somalia for Reconstruction and Reconciliation. These groups divide Somalia in clans and promote regional interests.
The agreement was mediated by Kenya and the Inter-Government Authority for Development, made up of six East African countries.
Somalia had been in a state of anarchy since the 1991 overthrow of dictator Siad Barre.