Russian Ministry of Economic Development ordered a risk assessment study for Armenia and Kyrgyzstan's accession to the Customs Union.

According to the documents, the alteration of the two countries' tariff regimes must be accessed, as well as those of the other states to be included in the study.

"The difference between import duties and rates of the CU common customs tariff creates differences in negotiation terms, thus requiring a quantitative assessment. This necessitates the assessment of the price volume of the countries' import to be affected by the alteration of the customs and tariff regime, as well as the volume of additional import duties or losses from the payment of duties," the document says.

The study should be completed by December 15, 2013. Tender applications should be filed till October 28, with the results to be announced November 5.

Armenia completed technical talks on a ‘deep and comprehensive free-trade agreement' (DCFTA) with the EU in July and it was set to be signed at a summit with the EU in late November. In addition to a free-trade deal, Armenia has been working towards the signing of an association agreement with the EU, a framework agreement on co-operation that is seen as a first step towards political integration with the EU.

However, during a Sept 3 meeting with Russian President Vladimir Putin, Armenian leader Sargsyan said Armenia is ready to join Customs Union, with further plans to be involved in formation of the Eurasian Economic Union.

Mr. 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; Kyrgyzstan and Tajikistan later expressed willingness to join the Union.