Bulgaria Takes over Black Sea Economic Cooperation Presidency

Bulgarian Minister of Foreign Affairs Kristian Vigenin. Photo by BGNES

Bulgaria will preside the Parliamentary Assembly of Black Sea Economic Cooperation (BSEC) in the period January 1 - June 30, 2014.

The BSEC was launched on 25 June 1992, with a meeting of the heads of state and government of eleven countries: Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey  and Ukraine. 

BSEC covers the territories of the Black Sea littoral States, the Balkans and the Caucasus with an area of nearly 20 M sq km, a population of 350 M with a foreign trade capacity of over USD 300 B annually.

After the Persian Gulf region, it is the second-largest source of oil and natural gas along with its rich proven reserves of minerals and metals, and is becoming Europe's major transport and energy transfer corridor.

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