The Black Sea Economic Cooperation (BSEC) is celebrating on 25 June 2009, the 17th year anniversary of its establishment (1).

As is known, BSEC was launched as a regionally owned initiative by Turkey in 25 June 1992 at the Istanbul Summit, at a time when regional cooperation was most needed in the transformation process that the countries of the region were undergoing. The idea that stronger economic cooperation among the Black Sea countries would enhance peace and stability in the region was the underlying philosophy behind BSEC. The main pillars of the initiative have been inclusiveness, transparency and regional ownership. In 1998, BSEC was officially transformed from an initiative into a regional cooperation organization with the adoption of the BSEC Charter in Yalta (2).

The interest of the international community towards BSEC ─ acknowledged as the most inclusive and institutionalized regional cooperation organization in the Black Sea area ─ has grown steadily. Today, after 17 years, BSEC has become a project-oriented organization which serves as a forum for cooperation for its 12 Member States (3) in a wide range of areas. These areas include transport, energy, trade, economic development, communications, education, culture, tourism, science, technology, healthcare, good governance, customs services, exploration and extraction of hydrocarbon resources and fight against organized crime.

The flagship projects of BSEC are the Black Sea Ring Highway project and the project on the development the Motorways of the Sea in the BSEC Region. These two projects which are related to the development of transport links in the region, are expected to do much to foster intra-BSEC trade, as well as tourism, infrastructure and transport investments and economic prosperity among the countries of the Black Sea. Most importantly, they will make a concrete difference in the lives of the people of the region and bring them closer together.

The Black Sea Ring Highway project envisages a four lane ring highway system, approximately 7100 km long, to connect the BSEC Member States with each other. The project on the development of the Motorways of the Sea in the BSEC region, on the other hand, is about strengthening the maritime links among the ports of the BSEC Member States. Activities within this project include the upgrading of port facilities, identification of projects of common interest, securing free and fair competition in international shipping, facilitation of access to all modes of transport and promotion of intermodality and enhancement of maritime security and safety in the BSEC region.

BSEC will continue to progress for the benefit of its people.

(1) The 15th anniversary of the establishment of BSEC was celebrated on 25 June 2007 with a Summit meeting in Istanbul which was held at the level of Heads of State and Government.

(2) The BSEC Charter entered into force on 1 May 1999, with which BSEC acquired an international legal identity.

(3) The 12 BSEC Member States are comprised of Bulgaria, Georgia, Romania, the Russian Federation, Turkey and Ukraine which are littorals of the Black Sea, as well as Albania, Armenia, Azerbaijan, Greece, Moldova and Serbia.

For further information:

Black Sea Economic Cooperation