Organization of the Black Sea Economic Cooperation (BSEC) was established with the aim of ensuring the economic cooperation of countries in the Black Sea basin. This international organization was established in 1992. Today it has 12 members. Detailed information about Organization of the Black Sea Economic Cooperation 2021 can be found in the rest of the article.
Black Sea Economic Cooperation Organization 2021 BSEC Establishment
The Organization of the Black Sea Economic Cooperation (BSEC) was established with the agreement signed at the summit held in Istanbul on 25 June 1992. The idea of Organization of the Black Sea Economic Cooperation was introduced in 1980 as a result of the countries in the basin needing each other’s consumer goods. In the beginning, the aim of the Organization was to establish a free trade association between the countries in the basin, and in the subsequent meetings, it was decided to evaluate this organization within the framework of economic cooperation. You can browse here for Eurozone Countries 2021 What is the Eurozone.
Following the gradual meetings, studies and decisions taken, the BSEC agreement was signed at the summit held in Istanbul on June 25, 1992, and the establishment officially became operational. The BSEC, which carried the Black Sea Economic Cooperation agreement to the international dimension, was signed on 5 June 1998 in Yalta. After this agreement, the BSEC became official and accelerated its work. Organization of the Black Sea Economic Cooperation is headquartered in Istanbul and the official language of the BSEC is English. Also the BSEC Secretary General is Michael Christides.
Members of Organization of the Black Sea Economic Cooperation and the Purpose of the BSEC
BSEC has 12 members. Founding members of the BSEC; Turkey, Albania, Azerbaijan, Armenia, Bulgaria, Moldova, Georgia, Romania, Russia, Greece and Ukraine. Serbia is the country that later joined Organization of the Black Sea Economic Cooperation and became a member. Cyprus and Montenegro also wanted to become a member of the organization but was not accepted applications for membership with veto Turkey and Greece. In addition to these, there are observer members of Organization of the Black Sea Economic Cooperation. These member countries; Germany, Tunisia, USA, Slovakia, Poland, Belarus, Czech Republic, France, Croatia, Egypt, Italy, Israel.
For details: https://en.wikipedia.org/wiki/Organization_of_the_Black_Sea_Economic_Cooperation
