Organization

Organization Forum

Background

On 25 June 1992, the Heads of State and Government of eleven countries, Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey and Ukraine, signed in Istanbul the Summit Declaration and the Bosphorus Statement giving birth to the Black Sea Economic Cooperation (BSEC).

It came into existence as a unique and promising model of multilateral political and economic initiative aimed at fostering interaction and harmony among the Member States, as well as to ensure peace, stability and prosperity encouraging friendly and good-neighbourly relations in the Black Sea region.

The BSEC Headquarters - the Permanent International Secretariat of the Organization of the Black Sea Economic Cooperation (BSEC PERMIS) - was established in March 1994 in Istanbul.

 

With the entry into force of its Charter on 1 May 1999, BSEC acquired international legal identity and was transformed into a full-fledged regional economic organization: Organization of the Black Sea Economic Cooperation. With the accession of Serbia in April 2004, the Organizationӳ Member States increased to twelve.

BSEC covers a geography encompassing the territories of the Black Sea littoral States, the Balkans and the Caucasus with an area of nearly 20 million square kilometers with almost 350 million population.

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Objectives

To act in a spirit of friendship and good neighborliness and enhance mutual respect and confidence, dialogue and cooperation among the Member States;

To further develop and diversify bilateral and multilateral cooperation on the basis of the principles and rules of international law;

To act for improving the business environment and promoting individual and collective initiative of the enterprises and companies directly involved in the process of economic cooperation;

Tto develop economic collaboration in a manner not contravening the international obligations of the Member States including those deriving from their membership to international organizations or institutions of an integrative or other nature and not preventing the promotion of their relations with third parties;

To take into account the specific economic conditions and interests of the Member States involved;

To further encourage the participation in the BSEC process of economic cooperation of other interested States, international economic and financial institutions as well as enterprises and companies.

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