The Black Sea region constitutes the heartland. The whole landmass has always been at the cross of East-West, North-South routes. There civilizations emerged, prospered and disappeared shaping diverse peoples, cultures, reforms and ideas in the flow of a long history, going back millennia to the Paleolithic and Caleolithic ages. In ancient times a "Black Sea culture" centering on sea-faring and trade flourished which later was influenced also by the Silk Road, its relics giving rise to some resemblances in this vast region.

These dynamics underlie the centuries old turbulence of the Black Sea region

• an area nearly 20 million km²,
• an unsaturated market of 330 million people with supply well behind demand in the three principal economic sectors of agriculture, industry, services,
• a foreign trade capacity of over 300 billion US Dollars annually,
• after the Gulf, second largest source of oil and natural gas,
• rich in proven reserves in minerals and metals exploited, with underground potential even greater,
• major supplier of commodities in international trade,
• diversified and creative human resources scientifically qualified and scholarly disciplined,
• abundant labor force skilled and unskilled at costs competitive,
• endowed with Ohots Sea, Caspian Sea, Azov Sea, Black Sea, Marmara Sea , Aegean Sea, Mediterranean Sea, Ionian Sea,
• covers important sea lanes and occupies strategic location in maritime transport, ship-building, repairing and overhauling,
• broad manufacturing basis in need of restructuring ,overhauling, modernization and commercialization,
• a composite of long history, rich cultures, diverse and colorful life styles molded in a wealth of natural landscape, awaiting to be discovered by the world of tourism.

In the closing decade of this century, rapid changes captured the Black Sea region nitiating a dramatic transformation in the area. This difficult but challenging transition, second to none in the world, continues. It has brought the region to a new threshold. The success of this movement is in the interest of security and stability both within and outside the Black Sea region.

Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania,Russia, Turkey, Ukraine meeting in Turkey signed the Istanbul Summit Declaration and adopted the Bosphorous Statement on 25 June 1992 giving birth to
With it, a new era started; the BSEC turned its back to a troubled, often volatile past and began marching towards a promising future.

For BSEC

• Confrontation is out, cooperation is in.
• Isolation is out, engagement is in.
  

- Bucharest statement of the high level meeting of the heads of state or government
(30 June 1995)
- Moscow declaration of the heads of state or government (25 october 1996)

These are milestones in shaping BSEC and mark its CONSOLIDATION STAGE.

- From political declaration to legal charter
- The Yalta summit of the heads of state or government convened on 5 June 1998 and signed the BSEC charter. Following the ratification formalities the charter came into force marking the official inauguration of the organization of the Black Sea Economic Cooperation on 1 May 1999.

And by the
- Istanbul summit declaration of the heads of state or government (17 november 1999)
ushered RESULT-ORIENTED PROGRAMS and PROJECTS STAGE .