The Business Council of the Black Sea Economic Cooperation (BSEC) was established on 30 August 1992 and became operational on 1 May 1993. From December 1992 it holds the observer statute within the Black Sea Economic Cooperation Organization and act for the identification and promotion, through financial international institutions and other international organizations, of projects for cooperation and investment in the Black Sea region.

The three major objectives of the cooperation within the Council are as follows:

• Supporting the member countries of BSEC in the process of transition to a market economy;
• Adoption of economic policies of these countries to the community parameters;
• Creation of a framework between business communities from these countries and between them and international financial institutions.

In late March 1995, the Chamber of Commerce and Industry of Romania, through its president, was appointed by the Ministry of Foreign Affairs as representative of the business community in Romania in the Council, taking part in its work.

Business Council is chaired by a Board of Directors, presidency being assured by rotation every 6 months. In this way a regular meetings between national business communities from member states and intergovernmental organizations from BSEC is assured. The activity between Board of Directors meetings is lead by the International Secretariat of the Business Council, with headquarters in Istanbul.

The Council collaborates with PERMIS (governmental cooperation structure within BSEC) and PABSEC (parliamentary structure), also with the Black Sea Region Association of Shipbuilders and Ship repairers (BRASS), International Club of Black Sea, Center for Black Sea Studies and many others.

Chamber of Commerce and Industry of Romania had the chairmanship of the Business Council in November 1996 – April 1997 and November 2005 – April 2006.

For more information please follow the next links: or

BSEC Business Council Weekly Economic News Bulletin 23-29 June 2014

BSEC Business Council Weekly Economic News Bulletin 16-22 June 2014

BSEC Business Council Weekly Economic News Bulletin 9-15 June 2014


Petru Alexandru Saca

Head of Office

European and International Organizations Office

tel.: 021 319 00 88
fax: 021 319 01 56