Russian President Vladimir Putin and his Belarusian counterpart Alexander Lukashenko have signed an integration decree of the Union State, the Kremlin said on Thursday.

The creation of a Union State was first agreed in a treaty in 1999 with the aim of deeper integration between the two neighboring countries. 

Thursday's document, which sets forth the Guidelines for Implementing the Provisions of the Treaty Establishing the Union State in 2021-2023, was signed during an online meeting of the Supreme State Council of the Union State, according to the Kremlin.

"This document covers 28 sectoral Union programmes designed to promote a coordinated macroeconomic strategy, introduce unified taxation principles, which is extremely important, implement a common policy in the credit and financial and banking sectors, in industry and agriculture, harmonize regulations for the unified oil, gas and electric power markets and for transport services," Putin said during the meeting.

"By carrying out these sectoral integration programmes, Russia and Belarus can create an equal and unified business environment," he added.

Lukashenko called it "another important step on the path of the union building."

(Cover: Combo photos of Russian President Vladimir Putin and Belarusian President Alexander Lukashenko. /Xinhua)