Cooperation in the Black Sea Region

Abstract

The Black Sea region is a crossroads of cultures, societies and markets that connects countries with different customs, languages, ethnic and religious identities. Throughout history, the cooperation initiatives and unifying factors of the region were emphasized or undermined highly depending on international balance of powers and geopolitical situation. While political tensions have questioned cooperation horizons in the region, entrepreneurship together with private initiatives has been stepping stones for such a prospect. Taking into account the fact that the economy has been the unifying factor in the area, Black Sea governments have embraced regional cooperation as an important component for their further development. This was reflected in the creation of the new cooperative structure, the Black Sea Economic Cooperation (BSEC) initiated in 1992, which came into existence as a unique and promising model of multilateral political and economic initiative.