Armenia expressed intention to join Customs Union with further plans to be involved in formation of EurAsEC, ITAR-TASS reported.

Russian President Vladimir Putin supported the initiative, voicing readiness to assist Armenia in the process.

He also noted that Russian Railways may invest 15 billion rubles in development of Armenia's railway network.

The Customs Union was formed in 2010 to include of Belarus, Kazakhstan, and Russia; Kirghizia and Tajikistan later expressed willingness to join the Union.

Earlier, Armenian as well as foreign experts were tying to forecast the agenda of a meeting between Serzh Sargsyan and Vladimir Putin. Some believed that the Armenian leader was expected to pick between the Customs Union and EU Associated Membership, choosing between Russia and Europe.

Thus, Sargsyan will have to persuade Putin that the economic element of the Association Agreement won’t lead to changes in the military and political sector of cooperation.

Other experts believe the Karabakh conflict settlement in the light of the oncoming presidential election in Azerbaijan to become the key issue of the meeting agenda.