This paper analyses the implications of the potential accession of the Republic of Azerbaijan to the Customs Union of Belarus, Kazakhstan, and Russia, combining qualitative and quantitative approaches. The qualitative approach employs stakeholder and sectorial analysis, while quantitative methodologies include Hedonic Estimation and Linear Regression Models. The stakeholder analysis discusses the implications of accession for different interested parties, namely businesses, citizens and international partners of Azerbaijan. The sectorial analysis assesses the varied probable impact of accession on different economic sectors.