The Black Sea Economic Cooperation Organization (BSEC), whose headquarter is in Istanbul, was established on 25 June 1992. There are 12 members, many of which are formed by the countries that have coast in the Black Sea.
The Founding members are Turkey, Russia, Azerbaijan, Armenia, Moldova, Georgia, Ukraine, Bulgaria and Romania. Other three members are Serbia, Greece and Albania.
The basic aim of the 12-member organization is to make the Black Sea area a zone of peace and stability. Countries seeking to achieve this goal are engaged in bilateral or multilateral economic, technological and sociological cooperation. Since 1992 the most structured cooperation among the members is economic cooperation.
The structure of BSEC
Council of Foreign Ministers: It is the sole decision-making body of the Black Sea Economic Cooperation Organization. The council, which is convened twice a year, takes a decision by consensus.
Committee of High Level Officers: Members of the committee representing the foreign ministers of the member countries are composed of senior bureaucrats. The committee, which ensures the implementation of the decisions and recommendations of the Council of Foreign Ministers, plays an important role in determining the roadmap by taking recommendations to the council.
Subsidiaries of the Organization
Parliamentary Assembly of the Black Sea Economic Cooperation
Bank of Trade and Development
International Center for Black Sea Studies
25th Foundation Anniversary Summit of the BSEC
On May 22, 2017, the 25th Anniversary of the Organization of the Black Sea Economic Cooperation was organized. Russian Prime Minister Dmitry Medvedev also attended the Summit, where the member governments’ Heads and Ministers came. Also in the latest months The United Nations Food and Agriculture Organization (FAO) has announced that 100,000 dollars will be provided in funds to the Black Sea Economic Cooperation Organization (BSEC) for use in activities aimed at improving agricultural trade in the Black Sea area. The fund will primarily be used to organize a regional workshop to address the challenges and opportunities for improving the export of agricultural products by the Member States of the BSEC. The workshop will focus on public-private partnerships in the development of agricultural commodity trade and cooperation.
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