Colombian President Juan Manuel Santos wants to remove the Revolutionary Armed Forces of Colombia or FARC from the list of terrorist organizations of the U.S. Santos told the Associated Press that he also wants the existing arrest warrants for FARC leaders suspended.

"If they sign it's because we have a timetable for their disarmament and they have committed themselves to lay down their arms and make this transition to legal life. So I would say yes, I hope that they would be eliminated from the terror list," the Colombian President said.

"Any effort by the United States to allow us to apply transitional justice, for example by suspending the arrest warrants, would help us tremendously. But let's be very clear. If they don't behave, they'll be extradited," he added.

The existing arrest warrants for about 50 FARC leaders was handed back in 2006 after being indicted for producing more than half of the world's cocaine supply. Santos noted that when the peace deal between Colombia and FARCE is sealed, the guerilla group will help in combating the prevalent drug trafficking in the country, per AFP News.

"The FARC, once we sign the peace deal, will start to help the state instead of fighting it in the substitution of illicit crops with legal crops, as well as the elimination of drug trafficking," Santos said.

The Colombian leader added that FARC was one of the "main obstacle" in stopping the illegal production of cocaine. The drug is derived from the coca plant abundant in the forests of Colombia and other Latin American countries.

Santos and the Colombian government have been receiving money from the United States since 1999 under the "Plan Colombia" program. However, drug trafficking is still bad in the region as well as violence due to various drug cartels battling for supremacy.

FARC rebels and Colombia are closer than ever in signing a peace deal to end the conflict that started back in 1964 with the main goal of creating a Marxist regime in the country. In recent months, progression was made from both sides and the final, deciding peace talks are set to be signed on March 23, 2015.

According to VOX, FARC came into great power from the 1980s up to the early 1990s when the drug trade was at its peak in Colombia. More than 200,000 people have already died since 1964, but the peace treaty is set to end 50 years of war and one of history's longest-running conflicts.