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Black Sea Economic Cooperation Organization Short and Medium Term Prospects


  • Constanta Aurelia Chitiba



Black Sea Economic Cooperation Organization (BSEC) was founded on June 1992, in Istanbul. Founding members are: Albania, Armenia, Azerbaijan, Bulgaria, Greece, Moldova, Romania, Russia, Turkey, Ukraine. Serbia acceded BSEC in 2004. BSEC is a regional cooperation organization whose principal goal is the development and diversification of economic cooperation in accordance with the principles and norms of international law. BSEC is focused on maintaining the Black Sea region stable and prosperous through the economic cooperation among its Member States. Between July-December 2015 Romania was BSEC Chairman in Office. In this position, Romania acted under the slogan Building Stability, Enhancing Commitments. During its chairmanship Romania highlighted the necessity of BSEC reactivation in order to ensure the economic development of the Black Sea area. Romania handed down the six months Chairmanship-in-Office to the Russian Federation.

Suggested Citation

  • Constanta Aurelia Chitiba, 2016. "Black Sea Economic Cooperation Organization Short and Medium Term Prospects," Knowledge Horizons - Economics, Faculty of Finance, Banking and Accountancy Bucharest,"Dimitrie Cantemir" Christian University Bucharest, vol. 8(1), pages 14-17, March.
  • Handle: RePEc:khe:journl:v:8:y:2016:i:1:p:14-17

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