The Black Sea Economic Cooperation (BSEC): 20 years after

The Black Sea Economic The Black Sea Economic Cooperation (BSEC): Cooperation (BSEC):

20 years after20 years afterPresentation by H.E Mr Presentation by H.E Mr Ştefan Tinca, Ştefan Tinca,

Ambassador of Romania to the Ambassador of Romania to the Kingdom of BelgiumKingdom of Belgium

Brussels, 15 April 2013Brussels, 15 April 2013

A historic view of the A historic view of the Black Sea regionBlack Sea region

* successive hegemony* successive hegemony

- regional “harmony” at the beginning, aiming at a conflict-free - regional “harmony” at the beginning, aiming at a conflict-free area and conducive to genuine regional cooperation. area and conducive to genuine regional cooperation.

- quest for markets and economic influence: Turkey and Greece - - quest for markets and economic influence: Turkey and Greece - the main economic and financial centres around the sea the main economic and financial centres around the sea

- - ““emancipation waveemancipation wave””: EU/NATO accession of Romania and : EU/NATO accession of Romania and Bulgaria, GUAMBulgaria, GUAM states states (Georgia, Ukraine, Azerbaijan and (Georgia, Ukraine, Azerbaijan and Republic of Moldova) Republic of Moldova)

- status quo trend- status quo trend

* limited Western-style governance, ideas or values* limited Western-style governance, ideas or values

* * Instead of the end of history, the region witnessed the reinvention of geopolitics

* COLD WAR: non history; POST-COLD WAR: much more dynamism and a mix of trends:

source:www.grida.nsource:www.grida.noo

source: source: www.grida.nowww.grida.no

BSEC MapBSEC Map

Members of BSEC

Observers to BSEC

Presentation of BSECPresentation of BSEC 25 June 1992, eleven countries: Albania, Armenia, Azerbaijan, 25 June 1992, eleven countries: Albania, Armenia, Azerbaijan,

Bulgaria, Georgia, Greece, R. Moldova, Romania, Russia, Turkey and Bulgaria, Georgia, Greece, R. Moldova, Romania, Russia, Turkey and Ukraine signed the Ukraine signed the IstanbulIstanbul Summit DeclarationSummit Declaration and the and the Bosphorus Bosphorus StatementStatement giving birth to the Black Sea Economic Cooperation (BSEC). giving birth to the Black Sea Economic Cooperation (BSEC).

BSEC came into existence as a unique and promising BSEC came into existence as a unique and promising model of multilateral political and economic model of multilateral political and economic initiative aimed at fostering interaction and harmony initiative aimed at fostering interaction and harmony among the Member States, as well as at ensuring among the Member States, as well as at ensuring peace, stability and prosperity and encouraging peace, stability and prosperity and encouraging friendly and good-neighborly relations in the Black friendly and good-neighborly relations in the Black Sea region.Sea region. Three distinctive stages in BSEC existence: until Three distinctive stages in BSEC existence: until 1999, 1999-2007, after 20071999, 1999-2007, after 2007

Main evolutions in the Main evolutions in the regionregion

A Strategic shiftA Strategic shift1999-20071999-2007 Progressive advancement of EU and NATO towards Progressive advancement of EU and NATO towards

Eastern EuropeEastern Europe Enlargement of NATO (2004) and EU (2007) Enlargement of NATO (2004) and EU (2007) BSEC becomes gradually a fully-fledged regional BSEC becomes gradually a fully-fledged regional

organisation, with completeorganisation, with complete institutional architecture. BSEC Charter: 1 May 1999institutional architecture. BSEC Charter: 1 May 1999

1992-1999: new states, searching new identities and international and regional profilesde-sovietisation, de-comunisationfrozen conflictsbut BSEC shows the positive outcome: the need for a formal organisation, based in Istanbul (1999)

2007-presentGrowing divisions among Member StatesGlobal economic crisisImpact on BSEC becomes significant

Security perspectiveSecurity perspective Security landscape dominated by: Security landscape dominated by:

inherited elements: situation of Russian inherited elements: situation of Russian armed forces and the frozen conflictsarmed forces and the frozen conflicts

new elements: NATO’s enlargement, new elements: NATO’s enlargement, growing assertiveness of Russian foreign policy , growing assertiveness of Russian foreign policy , evolving regional role of Turkeyevolving regional role of Turkey

Overall security situation marked by the Overall security situation marked by the strategic shift that occurred after 2004 (NATO strategic shift that occurred after 2004 (NATO enlargement)enlargement)

BSEC has no role in hard security, only limited BSEC has no role in hard security, only limited role in soft security matters. Regional role in soft security matters. Regional cooperation in military field is provided in other cooperation in military field is provided in other formats (BLACKSEAFOR, BLACK SEA formats (BLACKSEAFOR, BLACK SEA HARMONY)HARMONY)

Economic perspectiveEconomic perspective Economic transition in the 90sEconomic transition in the 90s the economic boom with its peak in 2008, fuelled the economic boom with its peak in 2008, fuelled

by the housing bubble, heavy speculation and by the housing bubble, heavy speculation and lack of reformslack of reforms

the effects of the global crisis reached the Black the effects of the global crisis reached the Black Sea region after 2009 and translated into severe Sea region after 2009 and translated into severe economic recession for most of BSEC memberseconomic recession for most of BSEC members

BSEC Economic Agenda: economic projects and BSEC Economic Agenda: economic projects and economic cooperation, focusing notably on economic cooperation, focusing notably on infrastructure, energy, trade and investment, but infrastructure, energy, trade and investment, but others as well. others as well.

Roller coaster type of economic evolution in the BSEC area

but most of the countries see their source of development outside the BSEC area; intra-BSEC trade and investment is still at rather low levels, both in volume and in percentage of total national trade and investment.

Energy security Energy security perspectiveperspective

Energy: on top of BSEC’s and the Energy: on top of BSEC’s and the international agendainternational agenda

European Energy Strategy (2010) and the European Energy Strategy (2010) and the concept of the Southern Corridor reaffirms concept of the Southern Corridor reaffirms the strategic importance of the Black Seathe strategic importance of the Black Sea

Main projects proposed so far by EU and Main projects proposed so far by EU and Russia in the Black Sea Region:Russia in the Black Sea Region:

NabuccoNabucco Blue StreamBlue Stream South StreamSouth Stream Other alternatives (IGTI, White Stream, AGRI)Other alternatives (IGTI, White Stream, AGRI)But also new trends: shale gas, the renewables (green energy a promising future in the region), changing world market

Perspective on societyPerspective on society Two factors fundamentally inhibited regional Two factors fundamentally inhibited regional

cooperation in the Black Sea area:cooperation in the Black Sea area: lack of a single space of movement for citizens in the region lack of a single space of movement for citizens in the region

in the context of a realignment of borders and migration in the context of a realignment of borders and migration policies of countries in the region after EU enlargementpolicies of countries in the region after EU enlargement

lack of a regional identity, affecting the quality of human lack of a regional identity, affecting the quality of human and cultural contactsand cultural contacts

Logically, these are the areas in which BSEC has the Logically, these are the areas in which BSEC has the highest potential highest potential

BSEC has implemented cooperation projects in areas BSEC has implemented cooperation projects in areas such as culture, education, public health and tourismsuch as culture, education, public health and tourism

BSEC has kept a low profile in areas such as BSEC has kept a low profile in areas such as supporting civil society, human rights and promotion supporting civil society, human rights and promotion of democracyof democracy

Less successful on networking of civil society or local Less successful on networking of civil society or local authoritiesauthorities

Presentation of BSECPresentation of BSEC

Decision makingDecision makingHeads of State

and GovernmentsSUMMITS

MinistersCOUNCIL OF MINISTERS

Line Ministry Line Ministry Line Ministry Line Ministry

Committee of Senior Officials

(CSO)

Sectoral Working Group(WG)




Secretariat (PERMIS)


PoliticalPolitical priorities prioritiesMain priorities of each CiO can be split into 3 Main priorities of each CiO can be split into 3 categories:categories:

Thematic issues: eThematic issues: environment, green economy nvironment, green economy (Greek Presidency), transport, energy, IT and (Greek Presidency), transport, energy, IT and research, civil emergency, organized crime, research, civil emergency, organized crime, agriculture agriculture

Institutional reform of BSEC: aInstitutional reform of BSEC: adoption of the fast-doption of the fast-track mechanism (2007) paved the way for the BSEC track mechanism (2007) paved the way for the BSEC PERMIS. After 2008, very limited discussions on PERMIS. After 2008, very limited discussions on institutional reform (Last attempt: Romanian CiO institutional reform (Last attempt: Romanian CiO (2011) in Sinaia - the culture of dialogue. (2011) in Sinaia - the culture of dialogue.

Relations with other external partners: Relations with other external partners: EU-BSEC EU-BSEC interaction; UN and UN frameworks, other regional interaction; UN and UN frameworks, other regional formatsformats


WorkingWorking methods methods

Committee of Senior Officials (CSO) is made of high-Committee of Senior Officials (CSO) is made of high-ranking officials from the MFAs of member statesranking officials from the MFAs of member states

Main task of CSO is to coordinate activities of the 19 Main task of CSO is to coordinate activities of the 19 thematic working groups (WG) of BSEC dealing with thematic working groups (WG) of BSEC dealing with a large range of activitiesa large range of activities

The 19 WGs are chaired by different member states The 19 WGs are chaired by different member states or by PERMIS with a mandate of 2 years with or by PERMIS with a mandate of 2 years with possible extension.possible extension.

The WGs play a central role in implementing The WGs play a central role in implementing resolutions adopted by ministers and the sectorial resolutions adopted by ministers and the sectorial Action Plans.Action Plans.


The Secretariat of BSEC The Secretariat of BSEC (PERMIS)(PERMIS)

Activity of the Permanent Secretariat is determined by Activity of the Permanent Secretariat is determined by three basic factors:three basic factors:

Mandate: Mandate: Ensuring that the overall activity of BSEC Ensuring that the overall activity of BSEC id carried on swiftly. Main tasks are to organize id carried on swiftly. Main tasks are to organize meetings, prepare paper work, report and manage the meetings, prepare paper work, report and manage the budget.budget.

Human resources: PHuman resources: PERMIS staff is appointed by ERMIS staff is appointed by member states with majority voting based on the member states with majority voting based on the principle of rotation. principle of rotation.

Budget: Budget: BSEC has its own regular budget of around BSEC has its own regular budget of around 1.5 million euro (mandatory). Project Development 1.5 million euro (mandatory). Project Development Fund (PDF) for financing economic projects with a Fund (PDF) for financing economic projects with a regional dimension (voluntary, mainly EL and TR). regional dimension (voluntary, mainly EL and TR).


Associated bodies and Associated bodies and financingfinancing

Parliamentary Assembly (PABSEC) – Parliamentary Assembly (PABSEC) – representatives of national parliamentsrepresentatives of national parliaments

International Center for Black Sea Studies (ICBSS), International Center for Black Sea Studies (ICBSS), based in Athens – BSEC’s think tank. It delivers based in Athens – BSEC’s think tank. It delivers opinions, makes recommendations, initiates debatesopinions, makes recommendations, initiates debates

Black Sea Trade and Development Bank (BSTDB), Black Sea Trade and Development Bank (BSTDB), based in Thessaloniki. It acts like an IFI, but based in Thessaloniki. It acts like an IFI, but affiliated to BSEC. Current portfolio of around €1.5 affiliated to BSEC. Current portfolio of around €1.5 bln.bln.

Other financial instruments: PDF (managed by Other financial instruments: PDF (managed by BSEC, but not part of BSEC budget); HDF (Greek BSEC, but not part of BSEC budget); HDF (Greek fund for BS projects) fund for BS projects)


Flagship projectsFlagship projects1. 1. The Black Sea Ring Highway (BSRH)The Black Sea Ring Highway (BSRH)

strategic objectivestrategic objective: upgrade the road infrastructure : upgrade the road infrastructure around the Black Sea and become an integral part of the around the Black Sea and become an integral part of the European Transport NetworkEuropean Transport Network

problematic issuesproblematic issues: :

1. the European Commission reluctant to include BSRH 1. the European Commission reluctant to include BSRH among its own projects under the TEN-T program; among its own projects under the TEN-T program;

2. one segment involves the crossing of the breakaway 2. one segment involves the crossing of the breakaway province of Abkhazia, the difficult relations between province of Abkhazia, the difficult relations between Georgia and Russia;Georgia and Russia;

3. the connection between south-western Ukraine and 3. the connection between south-western Ukraine and Istanbul.Istanbul.

Overall agreement to work with alternative Overall agreement to work with alternative trajectories where this is problematic. Current trajectories where this is problematic. Current discussions on common standards and requirements.discussions on common standards and requirements.

Source: The Joint Permanent Secretariat for the Black Sea Ring HighwaySource: The Joint Permanent Secretariat for the Black Sea Ring Highway

2. The Black Sea Motorways of the Sea 2. The Black Sea Motorways of the Sea (BSMoS)(BSMoS)strategic objective:strategic objective: promote cooperation among port promote cooperation among port authorities and business authorities from BSEC authorities and business authorities from BSEC member states; exchange of best practices between member states; exchange of best practices between Black Sea ports and other ports from the EU Black Sea ports and other ports from the EU

problematic issues: problematic issues: as with BSRH, the European as with BSRH, the European Commission is concerned with the economic Commission is concerned with the economic soundness of the project and its potential overlap with soundness of the project and its potential overlap with other existing EC projectsother existing EC projects

Recent agreement to set up the Secretariat in Turkey Recent agreement to set up the Secretariat in Turkey for the initial period of 3 years, followed up probably for the initial period of 3 years, followed up probably by Constanta (RO). by Constanta (RO).

Presentation of BSEC Presentation of BSEC Flagship projects Flagship projects

Assessment of BSEC functioning and results Assessment of BSEC functioning and results

Flagship projectsFlagship projects3. 3. The BSEC Permit for lorry driversThe BSEC Permit for lorry drivers

Project launched in February 2010. ItsProject launched in February 2010. Its goal is togoal is to allow trucks of allow trucks of participating states to transit through other participating states with participating states to transit through other participating states with one document instead of several ones. one document instead of several ones.

4. Emergency assistance4. Emergency assistanceThe WG on Cooperation in Emergency Assistance is one of the most The WG on Cooperation in Emergency Assistance is one of the most active withinactive within BSEC. Agreement on Collaboration in Emergency BSEC. Agreement on Collaboration in Emergency Assistance and Emergency Response to Natural and Man-made Assistance and Emergency Response to Natural and Man-made Disasters + Additional Protocol. Disasters + Additional Protocol. BSEC Network of Liaison Officers BSEC Network of Liaison Officers since 2009since 2009

5. 5. Science and technologyScience and technologyBSEC an international partner of EU within the 7th Framework BSEC an international partner of EU within the 7th Framework Programme (FP7). Most successful in creating regional networks of Programme (FP7). Most successful in creating regional networks of scientists.scientists.

6. Green Energy6. Green EnergyOriginalOriginal project proposed so far by the Energy WG was the project proposed so far by the Energy WG was the establishment of an integrated Black Sea energy market. establishment of an integrated Black Sea energy market. Problematic issues:Problematic issues: divergent energy interests, especially on energy divergent energy interests, especially on energy infrastructure projects and energy mix. infrastructure projects and energy mix. Today: green energy a major avenue in the New Economic Today: green energy a major avenue in the New Economic Agenda.Agenda.

Assessment of BSEC functioning and results Assessment of BSEC functioning and results

International relationshipsInternational relationships UN General Assembly:UN General Assembly: observer status in the observer status in the UN UN

General AssemblyGeneral Assembly since 8 October 1999. Since 2006, since 8 October 1999. Since 2006, a UNGA resolution is adopted every two years on the a UNGA resolution is adopted every two years on the cooperation between UN and BSECcooperation between UN and BSEC

UNDP:UNDP: Ongoing partnership between BSEC and Ongoing partnership between BSEC and UNDPUNDP under the Black Sea Trade and Investment under the Black Sea Trade and Investment Promotion Programme (BSTIP) since December 2006Promotion Programme (BSTIP) since December 2006

Central European InitiativeCentral European Initiative ( (CEICEI): A MoU on ): A MoU on cooperation signed between the BSEC and CEI on 7 cooperation signed between the BSEC and CEI on 7 March 2011 March 2011

European UnionEuropean Union: the European Commission was : the European Commission was granted observer status to BSEC in 2007 and a regular granted observer status to BSEC in 2007 and a regular dialogue EU-BSEC was set up at senior officials’ leveldialogue EU-BSEC was set up at senior officials’ level

Launch of the Launch of the EU Black Sea SynergyEU Black Sea Synergy InitiativeInitiative on on 14 February 2008. 14 February 2008.

An assessment of BSEC An assessment of BSEC functioning and resultsfunctioning and results

Negative sideNegative side Decline of commitment and political support Decline of commitment and political support

from its membersfrom its members Project managementProject management Severe impact of economic crisis on BSEC Severe impact of economic crisis on BSEC

normal activitynormal activity BSEC depends on financing from outside. Poor BSEC depends on financing from outside. Poor

attractiveness attractiveness Little sign to reverse the trend of diminishing Little sign to reverse the trend of diminishing

support for BSEC.support for BSEC.

Positive sideBSEC is the only format of dialogue for all the BSEC is the only format of dialogue for all the states in the regionstates in the regionGood, Western-style institutional architectureGood, Western-style institutional architectureGained its place in the international community as Gained its place in the international community as a regional cooperation actora regional cooperation actorGood knowledge of the region, good networks for Good knowledge of the region, good networks for cooperationcooperationGrowing need for regional cooperation in EuropeGrowing need for regional cooperation in Europe

Main actors in the Black Sea Main actors in the Black Sea region:region:

Russia and TurkeyRussia and TurkeyRussiaRussia:: main strategic goal in the Black Sea area is to remain powerful and main strategic goal in the Black Sea area is to remain powerful and

decisive in the regiondecisive in the region ready to use a wide range of instruments from hard power to soft powerready to use a wide range of instruments from hard power to soft power regional cooperation is of little value. Its value consists in its capability to regional cooperation is of little value. Its value consists in its capability to

prevent initiatives outside the organization to take shapeprevent initiatives outside the organization to take shape interested in preserving its former influence in the region. A functioning, interested in preserving its former influence in the region. A functioning,

but a weak BSEC serves best this purpose.but a weak BSEC serves best this purpose.

Turkey Turkey regional cooperation in the Black Sea region appears to have lost its initial regional cooperation in the Black Sea region appears to have lost its initial

importanceimportance is for status quo in the areais for status quo in the area aimed at keeping BSEC a predominantly economic entityaimed at keeping BSEC a predominantly economic entity BSEC is still important as long as it ensures the leadership over this BSEC is still important as long as it ensures the leadership over this

organizationorganization ambivalent about the question of Western influence in the Black Sea ambivalent about the question of Western influence in the Black Sea

regionregion

Main actors in the Black Main actors in the Black Sea Region:Sea Region:EU and USEU and US

EUEU:: Part of the region since 2007, but not keen to get involved. Part of the region since 2007, but not keen to get involved. Little knowledge about the regionLittle knowledge about the region Bilateral relations above regional cooperationBilateral relations above regional cooperation Seeks new strategic approaches to deal with Russia and Seeks new strategic approaches to deal with Russia and

TurkeyTurkey Remains highly attractive for its soft powerRemains highly attractive for its soft power Black Sea or BSEC not a priority after Eastern PartnershipBlack Sea or BSEC not a priority after Eastern Partnership

USUS Supportive towards regional cooperation as long it serves its Supportive towards regional cooperation as long it serves its

fundamental goals in the Black Sea region: security, fundamental goals in the Black Sea region: security, democracy and HR, energy. democracy and HR, energy.

Close eye on BSEC, but sees it of little strategic importance. Close eye on BSEC, but sees it of little strategic importance. Works either on its own or together with EU on EaP.Works either on its own or together with EU on EaP.

Diminished interest on BSEC as it focuses on PacificDiminished interest on BSEC as it focuses on Pacific

Assessment of Black Sea regional cooperationAssessment of Black Sea regional cooperation

Three theoretical Three theoretical approachesapproaches

Approaches of Member States:Approaches of Member States: Russia, Georgia, Azerbaijan, Armenia see BSEC as a framework Russia, Georgia, Azerbaijan, Armenia see BSEC as a framework

where national concerns prevail. No positive agenda for BSEC. where national concerns prevail. No positive agenda for BSEC. Often at the origin of institutional blockage (e.g. the successive Often at the origin of institutional blockage (e.g. the successive failed ministerial communiques)failed ministerial communiques)

Turkey and Greece support project-oriented BSEC and provide Turkey and Greece support project-oriented BSEC and provide most of the funds, but reluctant to major institutional review.most of the funds, but reluctant to major institutional review.

Romania and Bulgaria, partially Ukraine and R. Moldova Romania and Bulgaria, partially Ukraine and R. Moldova supportive towards regional cooperation, but no longer perceive supportive towards regional cooperation, but no longer perceive BSEC as the main engine for regional cooperation, which can be BSEC as the main engine for regional cooperation, which can be achieved through other means.achieved through other means.

Minimalist approachMinimalist approachRegional cooperation in Regional cooperation in this region has objective this region has objective limitations and BSEC limitations and BSEC cannot play a cannot play a substantial rolesubstantial role

Institutional Institutional approachapproach

Regional cooperation is Regional cooperation is insufficiently harnessed insufficiently harnessed and should be based on and should be based on sound institutions like sound institutions like BSECBSEC

Incremental approachIncremental approachRegional cooperation is Regional cooperation is a process-oriented a process-oriented approach, in which approach, in which institutions such as institutions such as BSEC do play a role, but BSEC do play a role, but only together with only together with states and societiesstates and societies

Enhancing Black Sea Cooperation: Enhancing Black Sea Cooperation: Possible ways forwardPossible ways forward

A significant change in the culture of the organization is A significant change in the culture of the organization is needed:needed:

A new A new culture of dialogueculture of dialoguevetoveto gradually minimized or abolished gradually minimized or abolished

decisionsdecisions taken by majority facilitate cooperation and dialogue taken by majority facilitate cooperation and dialogue

aa more representative (influential) Secretary General and more more representative (influential) Secretary General and more effective effective PERMISPERMIS

A new A new culture of entrepreneurshipculture of entrepreneurshipstreamlining priorities in the New Economic Agendastreamlining priorities in the New Economic Agenda

energy security and renewable energy to become headline goalsenergy security and renewable energy to become headline goals

fresh look at the regional development of existing or planned Trans-fresh look at the regional development of existing or planned Trans-European NetworksEuropean Networks

different approach of areas like environment, education and innovationdifferent approach of areas like environment, education and innovation

A new A new culture of partnershipculture of partnershipneed of streamlining and prioritization of existing partnershipsneed of streamlining and prioritization of existing partnerships

new kind of partnership with regional organizations such as CBSS, CEI, new kind of partnership with regional organizations such as CBSS, CEI, SEECPSEECP

a fruitful and meaningful partnership with the EUa fruitful and meaningful partnership with the EU

Enhancing Black Sea Cooperation:Enhancing Black Sea Cooperation: Possible ways forwardPossible ways forward

Harnessing the nature of the Black Sea as a sea of Harnessing the nature of the Black Sea as a sea of transit or a sea of connection.transit or a sea of connection.Eastern focusEastern focus: Baltic Sea - Black Sea - Caspian Sea. Through : Baltic Sea - Black Sea - Caspian Sea. Through BSEC-CBSS partnership or rather an EU-led project through EaP. BSEC-CBSS partnership or rather an EU-led project through EaP.

Central European focusCentral European focus: Baltic Sea - Black Sea - Adriatic Sea. : Baltic Sea - Black Sea - Adriatic Sea. The Central European Initiative (CEI) long-term strategy focuses on The Central European Initiative (CEI) long-term strategy focuses on creating a synergetic space spanning from the Baltic Sea towards creating a synergetic space spanning from the Baltic Sea towards the Black Sea and the Adriatic Sea and finding common ground in the Black Sea and the Adriatic Sea and finding common ground in areas like economy, trade, education, culture and others. Hence, areas like economy, trade, education, culture and others. Hence, CEI-BSEC partnership or rather an EU-led project centered on the CEI-BSEC partnership or rather an EU-led project centered on the Danube strategyDanube strategy

Southern/SE focusSouthern/SE focus: Mediterranean/Adriatic Sea - Black Sea - : Mediterranean/Adriatic Sea - Black Sea - Caspian Sea makes some sense in the field of energy security and Caspian Sea makes some sense in the field of energy security and transport. Projects like BTC or BTE already a reality between the transport. Projects like BTC or BTE already a reality between the three seas. Of the three is appears to be the least political and most three seas. Of the three is appears to be the least political and most business oriented.business oriented.

Value of regional cooperation in international relations

The figure below illustrates the potential for inter-linkages The figure below illustrates the potential for inter-linkages involving theinvolving the Black Sea areaBlack Sea area

THANK YOU!THANK YOU!

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The Black Sea Economic Cooperation (BSEC): 20 years after

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