Organization works together with related bodies, affiliated centers
This file photo was taken in 1992 in Istanbul after the foundation of the BSEC.The PARLIAMENTARY ASSEMBLY OF THe BSEC
The Parliamentary Assembly of the Black Sea Economic Cooperation (PABSEC) is a component of the BSEC structure giving it constant support on a consultative basis. It adds a pluralistic, meaningful dimension to the BSEC framework by providing legislative support in order to activate the relevant resolutions taken by the Council of Ministers. In the course of its operation, the spirit of mutual understanding and cooperation develops between national parliaments. The bonds established at a personal level among the parliamentarians are novel to the area and advance the cooperative spirit contributing to the amelioration of the political climate in the region. This is very precious.
The BSEC Business Council is composed of representatives from the business circles of the member states. The council is indicative in nature, providing encouragement and support to the private sector with the aim of opening all possible channels to trade and business interaction within the region and outside. The Business Council, as a center for interaction in between business circles from the BSEC members, helps to incubate joint ventures and other business-oriented initiatives. These will help to shape the outcome of a new multinational BSEC business world, the engine of the organization.
The Business Council brings the private sectors of the member states together in areas of common interest; thus, it is instrumental in familiarizing the actors as entrepreneurs with the state of businesses and opportunities in member states.
BLACK SEA TRADE AND DEVELOPMENT BANK (BSTDB)
The Black Sea Trade and Development Bank, which was established in Thessaloniki in 1999, is the first of its kind in the region. It is financed by the member states despite the serious shortage of capital in the region. It is considered the financial pillar of the BSEC. The bank operates on the same principles as a private lender. It cooperates closely with the EBRD, the EIB and other banking and financial institutions. It undertakes co-financing in bankable projects.
INTERNATIONAL CENTER FOR BLACK SEA STUDIES (ICBSS)
The International Centre for Black Sea Studies (ICBSS) is a uniquely positioned expert on the Black Sea area and its regional cooperation dynamics. Founded in 1998 as a non-profit organization located in Athens, Greece, it performs a dual function: As an independent research and training center the ICBSS pursues applied, policy-oriented research, builds capacity and promotes knowledge on the Black Sea region, both within and outside its boundaries.
As a related body of the BSEC, it strives to fulfill in the best possible way its institutional role and the assignments received by carrying out studies, offering policy advice and coordinating activities.
DATA AND ECONOMIC INFORMATION CENTER
The BSEC Coordination Center for the Exchange of Statistical Data and Economic Information was launched in 1993 in Ankara, as a unit within the Turkish Statistical Institute (TÜİK). The purpose of the center is to collect statistics and economic information, fulfill secretarial functions, coordinate these data and circulate them under various titles to the member states.
The center has so far issued several publications on trade, which needs to be expanded to cover all the member states and their entire flow of trade within the BSEC and to third countries. The collection of data in order to publish the main social and economic indicators of member states is in progress. The BSEC also promotes relationships with third parties (states, international organizations and institutions) interested in cooperating on various matters of mutual concern through dialogue partnership and sector dialogue partnership. The transformation of the BSEC into a fully-fledged international organization also gave an additional impetus to BSEC-U.N. cooperation. The BSEC obtained the status of observer in the U.N. General Assembly on October 8, 1999. Observer status in the BSEC is open, upon request, to any state or organization that expresses its readiness to make a practical and valuable contribution to the work of the BSEC.