The Good Friday Agreement, signed on April 10, 1998, marked a milestone in the Northern Ireland peace process, aiming to conclude decades of conflict known as 'The Troubles.' It was negotiated by political parties of Northern Ireland and the British and Irish governments. The agreement established provisions for devolved governance, cross-community cooperation, and was ratified via referendums in both Northern Ireland and the Republic of Ireland, symbolizing a significant move towards peaceful reconciliation.