Black Sea Economic Cooperation (BSEC) Summit urges cooperation among members to boost economy
Monitoring Desk: Twelve-member states of Black Sea Economic Cooperation (BSEC) Summit have decided to enhance coordination and cooperation among them to boost economy.
Black Sea Economic Cooperation (BSEC) 25th Anniversary Summit was held in Istanbul on Monday where heads of states and prime ministers of Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Serbia, Turkey and Ukraine sat together and decided to enhance cooperation among states although Russia and Ukraine are sharing worst kind of political standoff over Crimea and Eastern Ukraine war while Armenia and Azerbaijan were locked in a war like situation in April 2016 over Nagorno-Karabakh issue when Nagorno-Karabakh Defense Army was backed by the Armenian Armed Forces while Azerbaijani forces fought to regain control of territory controlled by the Armenia-backed unrecognized Nagorno-Karabakh.
In his inaugural speech, Turkish President Recep Tayyip Erdoğan emphasized on the need of enhance cooperation among member states of Organization of the Black Sea Economic Cooperation for resolving regional issues and for boosting the economy of the region.
According to Turkish media, Turkey and Russia signed a joint declaration to remove trade restrictions between the two countries during meeting but further details of declaration were not available to media as the declaration was signed after a closed-door meeting between Prime Minister Binali Yıldırım and Russian Prime Minister Dimitry Medvedev.
It may be mentioned that the Black Sea Economic Cooperation was formed on June 25, 1992, as a multilateral political and economic initiative aimed at peace, stability and prosperity in the region.
