Romania hands over BSEC chairmanship to Russian Federation

The meeting, organized under the aegis of the chairmanship in office of this regional body, which was held by Romania in the first half of the current year, will be a stocktaking event of Romania's term at the helm of BSEC, marking also the official launch of preparations for the BSEC 20th anniversary summit, as well as Romania's handing over the mandate of chairman to the Russian Federation, which is to hold it for the next six months.

Romania will be represented at the meeting by the country's chief diplomat Teodor Baconschi, in his capacity as president in office of the BSEC Council of Foreign Ministers. Attending the event and accepting the BSEC chairmanship on Russia's behalf will be Andrey Denisov, first Deputy Foreign Minister of the Moscow government.

Romania, a BSEC founding state, held the organization's chairmanship for the fourth time over January-June 2011, under the logo 'Building Sustainability, Enhancing Commitments'. The major priority of Romania's mandate has been to strengthen the economic component of BSEC and organize BSEC projects consistent with the existing financial resources. Romania has previously held the BSEC chairmanship in 1996, 2000 and 2006.

BSEC is a regional cooperation organization whose principles and objectives pursue the development and diversification of bilateral and multilateral economic cooperation based on principles and norms of international law. BSEC was among the first initiatives launched in the Black Sea region on June 25, 1992, when the heads of state or government of eleven countries - Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, the Republic of Moldova, Romania, the Russian Federation, Turkey and Ukraine - signed the Declaration of Istanbul. The organization also has a permanent secretariat headquartered in Istanbul.