Both councils are investigating whether a full or partial merger of children’s services is feasible and will publish their findings in May.
The move is part of a strategy being employed across five south London boroughs that is examining how the councils can work together, including mergers.
Richmond upon Thames, Merton, Croydon, Sutton and Kingston upon Thames have signed a "memorandum of understanding" to discuss ways to co-operate and jointly run services.
A spokeswoman for Richmond council said: "We are just at the investigation stage regarding children’s services and will know in May whether it is feasible."
She added that this latest memorandum leaves open the possibility of further collaboration and cooperation with the other four south London councils should the Kingston plans get the green light in May.
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