The Organization of the Black Sea Economic Cooperation is an organization created on June 25, 1992, to promote cooperation between its members, hoping to transform the BSEC into a regional economic organization. Founding members are: Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey, and Ukraine. Since then, Serbia and Montenegro has also become a member. June 25 is the 176th day of the year (177th in leap years) in the Gregorian Calendar, with 189 days remaining. ... 1992 is a leap year starting on Wednesday of the Gregorian calendar. ...
The chairmanship is currently held by Greece (1 November2004 - 30 April2005). November 1 is the 305th day of the year (306th in leap years) in the Gregorian Calendar, with 60 days remaining. ... 2004 is a leap year starting on Thursday of the Gregorian calendar. ... April 30 is the 120th day of the year in the Gregorian calendar (121st in leap years), with 245 days remaining, as the last day in April. ... 2005 is a common year starting on Saturday of the Gregorian calendar. ...
Membership is not restricted to countries which have access to the Black Sea. Satellite view of the Black Sea, taken by NASA MODIS Cities of the Black Sea The Black Sea (known as the Euxine Sea in the antiquity) is an inland sea between southeastern Europe and Asia Minor. ...
The BSEC is comprised of Russia, Ukraine, Turkey, Georgia, Romania, Bulgaria, Albania, Armenia, Azerbaijan, Moldova and Greece.
BSEC approved a Greek proposal in 1996 for the center to be housed in Athens.
One of the basic objectives of the BSEC, proclaimed in the "Summit Declaration", is to ensure that the Black Sea becomes a sea of peace, stability and prosperity, encouraging friendly and good-neighborly relations.
The BSEC Ministerial Council that was held in Chisinau on 28 October 2005, mandated Greece to start consultations with the EU with a view to the adoption of a Declaration by the EU Council on the enhancement of relations between the two sides.
At the time of its foundation, some BSEC members were actively engaged in armed conflicts, such as rmenia and Azerbaijan in Nagorno-Karabakh; Turkey and Greece stood at the brink of war on several ccasions in the Aegean Sea; and Russia was involved in conflicts in Georgia and Moldova.
The purpose of this paper is to consider the BSEC experience in seeking an answer to whether regional economic cooperation in the broader sense could lead to any trade creation/diversion effects even when the cooperating partners do not liberalize their trade policy among themselves and/or harmonize their policy towards third parties.
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