The leaders of Russia, Kazakhstan and Belarus have adopted a Declaration on the establishment of a Single Economic Area between the three countries.
Russia's President Dmitry Medvedev delivered the news during a session of the EurAsEC leaders' summit.
He quoted from the document, making special mention of the fact that the "SEA and the future Eurasian alliance are open to membership by other states".
Medvedev stressed its importance as an action plan of sorts for the nearest future. Medvedev called this true economic integration, which he expects to be honest, transparent and hopefully beneficial for all countries involved.