• World
  • May 07

Explainer - Black Sea Economic Cooperation

Ukrainian and Russian delegates have had to be separated after a scuffle during a meeting of Black Sea countries in the Turkish capital Ankara.

The outburst happened at the Parliamentary Assembly of the Black Sea Economic Cooperation, a grouping of 13 countries. 

Black Sea Economic Cooperation (BSEC)

• The Black Sea Economic Cooperation (BSEC) came into existence as a unique and promising model of multilateral political and economic initiative with the signing of the Istanbul Summit Declaration and the Bosphorus Statement by the Heads of State and government of the countries in the region, on June 25, 1992.

• BSEC is an inter-governmental organisation encompassing the Balkans, Caucasus and the territories of the Black Sea littoral states. 

• BSEC Member States: Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, North Macedonia, Romania, the Russian Federation, Serbia, Turkey and Ukraine.

• With the entry into force of its Charter on May 1, 1999, BSEC acquired international legal identity and was transformed into a full-fledged regional economic organisation — the Organisation of the Black Sea Economic Cooperation.

• The BSEC headquarters, the Permanent International Secretariat of the Organisation of the Black Sea Economic Cooperation (BSEC PERMIS), was established in March 1994 in Istanbul.

• Parliamentary Assembly of Black Sea Economic Cooperation (BSEC), Black Sea Trade and Development Bank (BSTDB), International Center for Black Sea Studies (ICBSS) and BSEC Business Council (BC) are related bodies under the umbrella of BSEC.

• Agriculture and agro-industry, banking and finance, combating organised crime, culture, customs matters, education, emergency assistance, energy, environmental protection, exchange of statistical data and economic information, healthcare and pharmaceutics, information and communication technologies, institutional renewal and good governance, science and technology, small and medium-sized enterprises (SMEs), tourism, trade and economic development and transport are among the main fields of cooperation within the framework of the organisation.

How it works?

• The Heads of State or government of the Member States may meet when the need arises. Usually they meet every five years.

• The principal regular decision-making organ of the BSEC is the Council of Ministers of Foreign Affairs, meeting twice a year. The Council of Ministers aims to achieve consensus on all issues, even where consensus is not mandatory according to the Rules of Procedure.

• The Committee of Senior Officials represents the Ministers of Foreign Affairs, acts on their behalf and convenes four times a year.

• The Subsidiary Organs (Working Groups and Groups of Experts), which are established by the Council of Ministers of Foreign Affairs, carry out their mandate defined by the Council, draw up joint projects and pursue their implementation in the Groups’ respective areas.

Objectives of BSEC:

• To act in a spirit of friendship and good neighbourliness and enhance mutual respect and confidence, dialogue and cooperation among the Member States.

• To further develop and diversify bilateral and multilateral cooperation on the basis of the principles and rules of international law.

• To act for improving the business environment and promoting the individual and collective initiative of enterprises and companies directly involved in the process of economic cooperation.

• To develop economic collaboration in a manner not contravening the international obligations of the Member States including those deriving from their membership of international organisations or institutions of an integrative or other nature and not preventing the promotion of their relations with third parties.

• To take into account the specific economic conditions and interests of the Member States involved.

• To further encourage the participation in the BSEC process of economic cooperation of other interested States, international economic and financial institutions as well as enterprises and companies.

Manorama Yearbook app is now available on Google Play Store and iOS App Store

Notes