The Organization of the Black Sea Economic Cooperation (BSEC) is an indigenous global association fastening on multilateral political and profitable enterprise aimed at fostering cooperation, peace, stability, and substance in that specific region. It traces its origin to 25th June 1992, when Turkish President Turgut Özal and leaders of ten other countries gathered in Istanbul and signed the summit declaration and the “Bosphorus Statement”. BSEC headquarters, the organization’s permanent international secretariat of the Black Sea Economic Cooperation was started in the year 1994, based in Istanbul.
With the entry into force of its duty on 1st May 1999, BSEC acquired a global legal identity and was changed into a completely developed indigenous Black Sea Economic profitable association organization cooperation. With the accession of Serbia (also Serbia and Montenegro) in April 2004, the Organization’s the Member States increased to twelve. North Macedonia’s accession in 2020 increased the association’s class to thirteen.
Background of the BSEC
On 25th June 1992, the heads of state and governments of eleven countries, Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey, and Ukraine, signed in Istanbul the meeting announcement and the Bosphorus statement leading to the rise of the (BSEC). It came into existence as a unique and promising model of multilateral political and profitable action aimed at fostering commerce and harmony among the member states, as well as fostering peace, solidity, and substance promoting warm and nice cordial relations in the specific region. The BSEC permanent international secretariat of the Organization of the Black Sea Economic Cooperation (BSEC PERMIS) With the entry into force of its mandate on 1st May 1999, BSEC acquired a global legal identity and was converted into a full-fledged indigenous profitable association Organization of the Cooperation. With the elevation of Serbia in 2004, the Organization’s member states’ numbers also increased further to 12. The elevation of North Macedonia was verified in 2019 after it completed its local legal framework. North Macedonia will be the 13th member state of BSEC. The BSEC chair for the first calendar year of 2020 was Romania. Turkey has played a visionary part in the establishment of BSEC, which has since come to be a comprehensive and full-grown profitable association. As a launching member, Turkey hosts the BSEC Headquarters and Secretariat and nearly follows BSEC actions.
Data about the BSEC region
Today, the Black Sea Economic Cooperation (BSEC) serves as a forum for cooperation in a wide range of areas for its 13 Member States, with the aim of fostering interaction and harmony among its members, as well as ensuring peace, stability, and prosperity, encouraging friendly and good-neighborly relations in the Black Sea region.
BSEC topography
BSEC covers a terrain consisting of the Balkans and the Caucasus with an area of nearly 20 million square kilometers. The BSEC region is located on those two mainlands mentioned above.
BSEC population
BSEC represents a region of 335 million people, reaching an intro-BSEC trade volume of USD 187 billion annually.
Rich natural resources
After the Persian Gulf region, it’s the 2nd largest source of oil painting and natural gas along with its rich proven reserves of minerals, essence, and other natural materials
Good infrastructure
It’s becoming Europe’s major transport and energy transfer corridor.
BSEC in general
Within the frame of relationship with global associations, BSEC was granted bystander status by the United Nations, the Energy charter secretariat, and the Danube Commission. BSEC is an association of profitable cooperation uniting an area of nearly 20 million km ², a market of roughly 330 million people, and reaching an intro-BSEC trade volume of nearly 300 billion US dollars annually. Agriculture and agro-industry, banking and finance, combating systematized crime, culture, customs matters, education, emergency aid, energy, environmental protection, exchange of statistical data and profitable information, healthcare and pharmaceutics, information and communication technologies, institutional renewal and good governance, wisdom and technology, SMEs, tourism, trade, and profitable development and transport are among the main fields of cooperation within the organization’s frame
