Organization of the Black Sea Economic Cooperation (BSEC) is a full-fledged intergovernmental, regional economic organization, established in 1992, with the aim to ensure peace, stability and prosperity in the Black Sea region. It consists of 12 Members States (Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Republic of Moldova, Romania, Russian Federation, Serbia, Turkey, and Ukraine). BSEC has more than 25 areas of cooperation, among them agriculture and agro-industry, banking and finance, combating organized crime, culture, education, emergency assistance, energy, environmental protection, healthcare and pharmaceutics, ICT, institutional renewal and good governance, science and technology, SMEs, tourism, trade and transport. The BSEC Permanent International Secretariat (PERMIS) is located in Istanbul, Turkey.
Parliamentary Assembly of the Black Sea Economic Cooperation (PABSEC) is composed of 77 parliamentarians representing the 12 BSEC Member States. Established in 1993 as an inter-parliamentary consultative body, the Assembly has united the efforts of the national parliaments to ensure cooperation and partnership in the region, by providing legislative support for the implementation of the decisions taken by the Heads of State or Government or by the Ministers of Foreign Affairs. The PABSEC International Secretariat is seated in Istanbul, Turkey.
Black Sea Trade and Development Bank (BSTDB) is an international financial institution with headquarters in Thessaloniki, Greece. It was established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Republic of Moldova, Romania, Russian Federation, Turkey, and Ukraine and started its operations in June 1999. The Bank supports economic development and regional cooperation in the Black Sea Region through trade and project finance lending, guarantees, and equity participation in private enterprises and public entities in the member countries.
BSEC Business Council (BSECBC) is an international, non-governmental and non-profit organization established in 1992, with the aim of lobbying and acting for the continuous improvement of the business environment throughout the Black Sea region to the benefit of the local business people and to help attract foreign investment. The International Secretariat of BSEC Business Council is located in Istanbul, Turkey.