Representatives of Libya's two rival parliaments have agreed on a draft agreement to solve the country's political crisis and form a government of national unity.

After a weeklong series of meetings in Tripoli, representatives of the General National Congress and Tobruk Parliament called for a stop to bloodshed to prevail peace and stability in the country.

In a statement on Tuesday, they announced a national charter under the name of "the Libyan national agreement" that aims to end the ongoing political crisis that split the country into two and deepened division among Libyans.

"A government of national unity must be formed based on competence, experience, fairness and national spirit." The statement reads.

The two parties also agreed to fight all forms of terrorism with an accurate definition to the term "terrorism."

"We call on the UN, the international community and all friendly countries to back this draft agreement and help the Libyan people in building their state but without intervention ," the statement adds.

They also called for a real solution to the illegal immigration, expressing their readiness to cooperate with the EU and AU to solve this crisis.

According to the statement, the draft Libyan national agreement would be submitted to the two parliaments for revision within two weeks.

"It would be finally signed and approved if it was accepted by the GNC and HoR." The statement indicates.