U.S. to deploy new military bases to Colombia

Under the deal, the U.S. military will be able to operate on Colombian soil to tackle drug-trafficking and terrorism.

A number of South American countries have condemned the plan and Argentina has said the bases are "not helpful".

Venezuelan President Hugo Chavez has expressed fears the move would amount to preparation for an invasion of his country by U.S. forces.

Colombia's foreign ministry said that Bogota had agreed the text of the deal with the US.

"This agreement reaffirms the commitment of both parties in the fight against drug-trafficking and terrorism," the ministry said in a statement.

The deal will now be reviewed in both countries before being signed.