The announcement came at a meeting in La Paz, where the countries approved the final part of the border demarcation.
The 742-kilometre border is now fully established after several decades. The countries describe the agreement as a historic milestone and the result of long-standing diplomatic cooperation.
After the Chaco War between the countries from 1932 to 1935, a peace treaty was signed in 1938, which laid the foundation for the 88-year process of determining the border.
