Bulgaria Takes over Black Sea Economic Cooperation Presidency
Bulgaria will preside the Parliamentary Assembly of Black Sea Economic Cooperation (BSEC) in the period January 1 - June 30, 2014.
The BSEC was launched on 25 June 1992, with a meeting of the heads of state and government of eleven countries: Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey and Ukraine.
BSEC covers the territories of the Black Sea littoral States, the Balkans and the Caucasus with an area of nearly 20 M sq km, a population of 350 M with a foreign trade capacity of over USD 300 B annually.
After the Persian Gulf region, it is the second-largest source of oil and natural gas along with its rich proven reserves of minerals and metals, and is becoming Europe's major transport and energy transfer corridor.
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