On Wednesday, President Barack Obama is expected to unveil an agreement with Cuba that will allow each country to reopen embassies in the other's capital.

Speaking on the condition of anonymity, government officials said that President Obama and U.S. Secretary of State John Kerry will make a formal announcement about the breakthrough deal Wednesday morning, reports USA Today.

In a breaking news tweet, the Associated Pressed revealed that Havana and Washington are set to reopen embassies on July 20, according to sources with the Cuban Foreign Ministry.

Once the deal is in place, Kerry is expected to visit Havana and attend a flag-raising ceremony to upgrade the U.S. interests section to a full-scale embassy, reports Reuters.

This will mark another huge step in the U.S. effort to normalize relations with the Communist country following a 54-year frozen relationship that began when the former Cold War foes cut ties in 1961.

Back in December, Obama announced that he has been working with Cuban leaders to reestablish diplomatic relations with the Caribbean Island Nation.

Earlier on Wednesday, the president hinted at the progress between U.S. and Cuba relations during a speech delivered before Brazilian President Dilma Rousseff at the White House.

"I very much appreciate President Rousseff and Brazil's strong support for our new opening toward Cuba. I updated Dilma on our progress, including our work to open embassies in Havana and Washington," Obama said. "And I believe that Brazil's leadership in the region, as well as its own journey to democracy and a market economy can make it an important partner as we work to create more opportunities and prosperity for the Cuban people."

In May, the U.S. removed Cuba from the U.S. terrorism list after a thorough review determined the Cuban government had not provided assistance to terrorist organizations in the preceding six months and the country agreed not to do so moving forward.

Obama is scheduled to speak from the White House Rose Garden at 11 a.m. EST.

More to follow.