Organization of Black Sea Economic Cooperation (BSEC)

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Established 25 Jun 1992, as Black Sea Economic Cooperation -- Coopération économique de la Mer Noire (CEMN), when Heads of State or Government of 11 States signed the Istanbul (Turkey) "Summit Declaration on Black Sea Economic Cooperation". Current name adopted, 1 May 1999, when a Charter was signed by the Heads of State or Government of the Member States, 5 Jun 1998, Yalta (Ukraine).


Ensure that the Black Sea becomes a sea of peace, stability and prosperity; promote friendly and good-neighbourly relations; develop comprehensive multilateral and bilateral economic cooperation covering various fields of activity in order to foster their economic, technological and social progress; make best use of all opportunities for enhancing the mutually advantageous economic and trade cooperation arising from the geographic proximity of member states and encourage free enterprise.


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Organizational structure comprises 6 components.

(i) /Intergovernmental component/: Council of the Ministers of Foreign Affairs of the Member States, the regular decision-making body; 'Sessional Chairman', rotating in alphabetical order every 6 months; 'Committee of Senior Officials'; 'Working Groups'; ad hoc 'Working Groups of Organizational Matters' representing Subsidiary Bodies established by the Council; Permanent International Secretariat (PERMIS), set up 1994, headquartered in Istanbul (Turkey).

(ii) /Interparliamentary component/: F-XF3139 - Parliamentary Assembly of the Organization of the Black Sea Economic Cooperation (PABSEC).

(iii) /Business component/: Organization of the Black Sea Economic Cooperation Business Council (BSEC BC), private sector organization, which operates through a Secretariat based in Istanbul.

(iv) /Financial component/: F-XF5680 - Black Sea Trade and Development Bank (BSTDB), located in Thessaloniki (Greece).

(v) /Academic component/ or academic dimension: E-XK1891 - International Centre for Black Sea Studies (ICBSS), fostering the process of cooperation among academic communities whose main purpose is the application of the achievements of science and technology to concrete fields of economic cooperation.

(vi) /Information component/: E-XE2651 - Black Sea Economic Cooperation Centre for the Exchange of Statistical Data and Economic Information (BSECCESDEI).


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Relations with Non-Governmental Organizations

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UN Sustainable Development Goals **

GOAL 8: Decent Work and Economic GrowthGOAL 17: Partnerships to achieve the Goal



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* Subject classification is derived from the organization names and aims.
** UN SDGs are linked to the subject classification.

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