The Kurdistan Workers Party (PKK) militant group, which has been locked in bloody conflict with the Turkish state for more than four decades, decided to disband and end its armed struggle, a news agency close to the group reported Monday.

The PKK's decision could boost NATO member Turkey's political and economic stability and encourage moves to ease tensions in neighboring Iraq and also in Syria, where Kurdish forces are allied with U.S. forces.

Since the PKK launched its insurgency in 1984, the conflict has killed more than 40,000 people, exerted a huge economic burden and fueled social tensions. The PKK is designated a terrorist group by Turkey and its Western allies.