The BSEC Business Council - Exploring possibilities for business cooperation in the wider Black Sea area April

The Business Council of the Organization of the Black Sea Economic Cooperation (BSEC BC) 2

The BSEC Business Council  The BSEC Business Council was established in 1992, as a key-mechanism representing the business community of the BSEC Member States.  The BSEC Business Council forms the business pillar of the BSEC 3

4 The BSEC Business Council  is one of BSEC four Related Bodies;  its International Secretariat is located in Istanbul;  it is considered to be an international non-governmental organization according to its Statute and by the law concerning operation of its Secretariat;  the Members of its Board of Directors are the BSEC Member States, through the national organizations representing the business communities, officially appointed to this purpose;  closely connected to the BSEC Organization, is officially supported by the governments.

5 Which are the Members of the BSEC Business Council? The Members States of the Organisation of the Black Sea Economic Cooperation  Albania  Armenia  Azerbaijan  Bulgaria  Georgia  Greece  Moldova  Rumania  Russia  Serbia  Turkey  Ukraine

Institutional position of the BSEC Business Council BSEC BUSINESS COUNCIL (BSEC BC) BSEC BUSINESS COUNCIL (BSEC BC) INTERNATIONAL SECRETARIAT INTERNATIONAL SECRETARIAT BOARD OF DIRECTORS CHAIRMANSHIP- IN-OFFICE ORGANIZATION OF THE BLACK SEA ECONOMIC COOPERATION (BSEC) ORGANIZATION OF THE BLACK SEA ECONOMIC COOPERATION (BSEC) Intergovernmental cooperation of 12 Member States PARLIAMENTARY ASSEMBLY (PABSEC) PARLIAMENTARY ASSEMBLY (PABSEC) BLACK SEA TRADE AND DEVELOPMENT BANK (BSTDB) BLACK SEA TRADE AND DEVELOPMENT BANK (BSTDB) B S E C R E L A T E D B O D I E S INTERNATIONAL CENTER FOR BLACK SEA STUDIES (ICBSS) INTERNATIONAL CENTER FOR BLACK SEA STUDIES (ICBSS) 12 BSEC Member States through national organizations representing business community 12 BSEC Member States through national organizations representing business community 6

The BSEC Business Council’s main objectives to promote and facilitate the business community of the BSEC Member States; to improve the whole region’s investment climate ; to further contribute to the regional economic cooperation process, considered to be the first step towards the integration into the global business system. 7

The main objectives of the BSEC Business Council are implemented by: a) providing business facilitation services for doing business in the region, through an extended information mechanism; b) contributing to the intra-BSEC dialogue towards the enhancement of the regional cooperation; c) expanding the cooperation with national, regional and international governmental and non-governmental organizations and initiatives for further networking, joint actions and coordination; d) promoting the public-private cooperation, though increasing the advisory role of the BSEC Business Council and activating the dialogue between the government and the business at regional level; e) supporting and facilitating small-medium enterprises; f) promoting the public-private partnerships (PPP), with emphasis in the major infrastructure projects of the area. 8

The BSEC Business Council’s role “ to coordinate all the actions promoting individual and collective business activities and to keep the regional awareness of these initiatives ” 9

The wider Black Sea area, which coincides with the BSEC region  has experienced increasing financial openness since the mid ‘90s and rapid economic growth;  has attracted both long-term and short term capital, which, together with trade and FDI openness, strengthened market-driven economic interdependence in the region 10

11 “ “Due to the impact of the recent global economic crisis that considerable economic and social growth seems to be threatened”  The business people are hesitant for participating in regional initiatives  the countries also follow more restrictive policy in supporting financially such initiatives

“ However, this trend will change ” The crisis prompted the regional economies, which are increasingly interdependent to realize the importance of closer economic cooperation among them. 12

“ Current problems meet opportunities for changes and reworking the economy ” 13

The BSEC Business Council could be used:  as business policy dialogue platform for enhancing and coordinating the regional stakeholders from business and promote cooperation;  to undertake initiatives for adopting recovery policies, through promoting the “ green economy ”, innovation, knowledge and technology with a view to create lead market opportunities and improve the competitiveness and productivity;  for mobilizing both governments and business communities to invest in the most dynamic and promising economic sectors, such as energy, transport, telecommunications, trade facilitation, environment etc. and offering opportunities for employment;. 14

The International Secretariat of BSEC Business Council, in cooperation with the Members of the Board of Directors intents to actively  support initiatives for promoting smart business.  propose specific actions to be devoted for further strengthening the ties of BSEC BC with international organization and donors, which implement regional programms 15

There is a huge potential and reward for entrepreneurship in taking advantage “smart business”. “Smart money” now goes also with the “green economy” and the new technologies. 16

The BSEC Business Council is the only international non-governmental organization representing the business community in the region, which has been recognized, from OECD, as eligible for Official Development Assistance (ODA). 17

The BSEC Business Council representing the business dimension of the whole BSEC cooperation process intends to further strengthen the collaboration with:  BSEC Organization (inter-governmental dimension),  its other Related Bodies, namely the: o Parliamentary Assembly of BSEC (PABSEC) (inter-parliamentary dimension); o Black Sea Trade and Development Bank (BSTDB) (financial pillar); o International Center for Black Sea Studies (ICBSS) (think tank). 18

19 With the assistance of the countries and the business people the BSEC Business Council will work towards:  bringing out the meaning and the application of the “regional business cooperation” to the average business people  establishing and promoting the “regional brand name” of the BSEC region

The BSEC Business Council welcomes proposals for further cooperation with the business communities at regional level 20

BSEC BUSINESS COUNCIL International Secretariat Sakip Sabanci Cad. Musir Fuad Pasa Yalisi, Eski Tersane, Istanbul-Turkey Tel , 1144 Fax:

Thank you Eftychia G. Bacopoulou Secretary General BSEC Business Council 22