Organization of the Black Sea Economic Cooperation - BSEC
The Black Sea Economic Cooperation (BSEC) was established in 1992 as an informal initiative and evolved into a regional economic organization with its headquarters in Istanbul on May 1, 1999, when its Charter came into effect. BSEC currently includes 13 countries from the broader Black Sea region, namely Azerbaijan, Albania, Armenia, Bulgaria, Georgia, the Republic of North Macedonia, Greece, Moldova, Ukraine, Romania, the Russian Federation, Serbia, and Türkiye.
Intergovernmental cooperation within the framework of the BSEC Organization is developed through thematic Working Groups in various areas such as energy, transportation and communications, trade, economic development, banking and financial matters, good governance, institutional restructuring, combating organized crime, environmental protection, agriculture, healthcare cooperation, emergency assistance, research and technology, education, tourism, culture, facilitation of product transportation, customs simplification, exchange of statistical data, and support for small and medium-sized enterprises.
The operation of the BSEC is coordinated by a six-month rotating Presidency, which is taken on by member states in alphabetical order. Greece last held the Presidency during the first half of 2019.
The BSEC has associated bodies, including the "Parliamentary Assembly," which ensures interparliamentary cooperation among member states, the "Business Council," which promotes cooperation among business communities, the Black Sea Trade and Development Bank based in Thessaloniki with shareholder member states for financing programs and investments, and the International Center for Black Sea Studies headquartered in Athens with the purpose of promoting interdisciplinary cooperation.
Greece consistently supports the operation and work of the organization, as well as the ongoing effort to renew its scope of action, with the goal of deepening regional cooperation among its member countries and promoting the development programs of the organization.
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