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Organization of the Black Sea Economic Cooperation - BSEC

BSEC

The Organization of the Black Sea Economic Cooperation (BSEC) was established in 1992 as an informal initiative and evolved into a regional economic organization, headquartered in Istanbul, on 1.5.1999, when its Charter entered into force. BSEC counts 13 Member States from the wider Black Sea region (Azerbaijan, Albania, Armenia, Bulgaria, Georgia, Greece, Moldova, North Macedonia, Romania, the Russian Federation, Serbia, Türkiye and Ukraine).

Within the BSEC framework, intergovernmental cooperation develops through thematic Working Groups, in the fields of energy, transport and communications, trade and economic development, banking and financial issues, good governance and institutional renewal, combatting organized crime, environmental protection, agriculture, health and pharmaceuticals, in cases of emergency assistance, science and technology, education, tourism, culture, facilitating of road transport of goods, customs, exchange of statistical data, as well as supporting small and medium-sized enterprises.

The work of the Organization is coordinated by the semi-annual Chairmanship-in-Office, assumed by the Member States in alphabetical order.

The BSEC family of institutions includes the BSEC Related Bodies:

  • the Parliamentary Assembly of BSEC-PABSEC, promoting inter-parliamentary cooperation;
  • the BSEC Business Council, promoting interaction between business communities,
  • the Black Sea Trade and Development Bank (BSTDB), the funding instrument of the Organization, based in Thessaloniki, and
  • the International Centre for Black Sea Studies (ICBSS), promoting scientific cooperation, based in Athens.

Greece consistently supports the work of the Organization, as well as efforts to expand its scope, aiming at deepening regional cooperation.

In this context, major importance is attributed to the cooperation of BSEC with other international and regional organizations, and, in particular, to promoting the EU - BSEC interaction, through implementing joint development programs in a wide range of sectors.

June 9, 2026