Black Sea Economic Cooperation Organization (BSECO)

Participants: Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Serbia, Turkey, Ukraine.
Observers: Austria, Belarus, Check Republic, Croatia, Egypt, France, Germany, Israel, Italy, Poland, Slovakia, Tunisia, USA, Energy Charter Conference.
BSECO holds observer status in the United Nations (UN).
Background
25 June, 1992 – The Summit Declaration and the Bosporus Statement were signed by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey, and Ukraine in Istanbul (Turkey) giving birth to the Black Sea Economic Organization. The main objectives of the BSECO included close economic cooperation, free movement of goods, services, labour and capital within member states, and integration into the world economy.
5 June, 1998 – The Heads of eleven founding member states signed the Charter of the Black Sea Economic Cooperation Organization in Yalta (Ukraine).
1 May, 1999 - With the ratification of the BSECO Charter by the Parliaments of the member states and its entry into force, BSECO acquired international legal identity and was transformed into a full-fledged regional economic organization.
April, 2004 – Serbia became the twelfth member of the BSECO.
28 October, 2008 – At the 13th Council of Foreign Ministers in Chisinau the observer status was given to Belarus and the USA.
Major Objectives
The distinctive characteristics of the BSECO in comparison with other sub regional organizations are represented in the Summit Charter of 1992. Unlike other organizations whose aim is to contribute to trade development between countries, BSECO gives priority to manufacturing cooperation. It was expressed in industrial approach to solving common economic problems of the region.
According to the Charter, member states work closely in the following spheres:
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Trade and Economic Development
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Banking and Finance
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Communication
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Energy
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Transport
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Agriculture
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Healthcare and Pharmaceutics
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Environmental Protection
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Tourism, Science and Technology
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Exchange of Statistical Data and Information
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Customs Matters
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Combating organized crime, terrorism, drug trafficking, illegal weapons and radioactive materials sale, and illegal migration.
Sixteen working groups were formed within the BSECO to maintain cooperation in the above mentioned spheres.
One of the BSECO aims is to establish a free trade area on the territory of member states, which can become a part of a more global process of the development of the European economic area. Considering legal obligations of some members of BSECO to the EU and efforts of the majority of them to become full-fledged members of the European Union, any effective action of free trade area development in the Black Sea region should be taken as part of BSECO-EU dialogue.
BSECO member states work on joint projects designed to unify national power systems into a common regional network, development of regional transport corridors and their integration into the worldwide transport infrastructure. At present the program of the Black Sea region environment protection is underway.
Documents
The major document regulating the activity of the BSECO is Organization’s Charter enacted on May 5 1998.
Besides the Charter representatives of the member states adopted the following regulatory enactments:
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Additional Protocol on the Privileges and Immunities of the Organization of the Black Sea Economic Cooperation
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Headquarters Agreement
- Agreement among the Governments of the Participating States of the BSECO on Collaboration in Emergency Assistance and Emergency Response to Natural and Man-Made Disasters
- Agreement Among the Governments of the BSECO Participating States on Cooperation in Combating Crime, in Particular in its Organized Form
- Declaration of BSECO member states contribution into security and stability
- Economic Agenda of the BSECO
Managing Bodies
The regular decision making body of the BSEC organization is the Council of Foreign Ministers. The meeting of the foreign ministers of the member countries takes place twice a year. The Council deals with the development of the organization according to the aims proclaimed in the Charter and other respective Declarations. The Council of Foreign Ministers is headed by the Chairman, who coordinates all the activities. The rotation of the chairmanship takes place every six months in accordance with the English alphabet. In the event that a certain member state refuses to hold the position of the Chairman, it is given to the member country which stands next according to the alphabet.
Secretarial functions are carried out by the Permanent International Secretariat located in Istanbul (PERMIS). PERMIS staff serves their duties as international officials according to the principles and goals of the BSECO. PERMIS functions as a depository of the Charter – BSECO main document.
Parliamentary Assembly (PA BSECO) is affiliated with BSECO. It represents national parliaments of the member states and provides permanent support to the Black Sea regional collaboration process on consultative basis.
The BSECO Business Council (BSECO BC) was created and has been functioning within the framework of the BSEC Organization. This is an international NGO, consisting of the representatives of the member states’ business communities. The main goals of the BSECO BC are the networking and the establishment of direct contacts among the businessmen of the Black Sea region; representation of the interests of the business community in all the BSECO bodies; elaboration of legislative initiatives, that support the development of the private business; development of projects on multilateral collaboration; support in the area of information and consultation; organization and holding of conferences and seminars; assistance in establishing partnerships. One of the most important areas of activity of the Business Council is practical assistance to local and foreign investors, which is carried out in cooperation with the Black Sea Trade and Development Bank (BSTDP).
One of the spheres of activity of the BSECO is the financing of projects developed by the member states. This is addressed by the BSTDP, which was founded in Thessaloniki in 1999. The major shareholders of the bank are Greece, Turkey and Russia.
Personalities
Leonidas Chrysanthopoulos, Secretary General of the BSECO PERMIS
Links
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