Somali leaders, meeting in the Ethiopian capital, Addis Ababa over the last three days, have finally agreed to end the political transition process and set a date for the creation of a parliament and a new president.
The leaders say they have resolved their differences over the new constitution and solved previous contentious issues.
This issues had led some of the transitional leaders to question the legitimacy of the new charter.
The timetable for the creation of the new government will see the swearing in of new parliament members on 20 July, the election of a parliamentary speaker in August, and a new president on 20 August.
The UN and African Union, which have been the prime movers in the process, say the agreement marks a milestone in the path towards a new constitution
The meeting - lead by Somalia's transitional federal government, the semi-autonomous regions of Puntland and Galmudug and the Ahlusunnaha Waljama, a moderate sect which has been fighting with al-Shebab militants for the last three years, have committed to the new timetable.
The agreement, signed at the end of the talks, sees all sides committed to a rigorous schedule for rebuilding the state.