The Black Sea Economic Cooperation (BSEC) Business Council Board started its 47th in Yerevan on December 9.
The meeting covered the progress report of BSEC Business Council, the Business Council's budget for 2013, the budget forecasts for 2014-15, as well as annual investments of the Business Council members. The meeting will also cover proposals on trade and economic cooperation between BSEC countries. Representatives of all BSEC states, except Azerbaijan and Turkey, are participating in the meeting.
To note, on 25 June 1992, the Heads of State and Government of eleven countries signed in Istanbul the Summit Declaration and the Bosporus Statement giving birth to the Black Sea Economic Cooperation (BSEC). It came into existence as a model of multilateral political and economic initiative aimed at fostering interaction and harmony among the Member States, as well as to ensure peace, stability and prosperity encouraging friendly and good-neighbourly relations in the Black Sea region. Membership has not been restricted to countries which have access to the Black Sea: Albania, Armenia, Azerbaijan, Greece, Moldova, and Serbia do not have a coastline on the Black Sea.
The BSEC Headquarters - the Permanent International Secretariat of the Organization of the Black Sea Economic Cooperation (BSEC PERMIS) - was established in March 1994 in Istanbul.