1. Global Challenges in Black Sea Region and Security Aspects of Economic cooperation By Dr. Eka Sepashvili

2. Introduction Integration and regionalism as modern trends of development Current tendency of world economy development Integration and Globalization Contemporary Regionalism Integration in Developing world

3. Circumstances in Black Sea Region for Cooperation Regional market of 1/3 billion people Improving economies Strategic position - center of Eurasia Energy and mineral resources / routes Great nature, culture- tourism paradise Technological and scientific base Competitive operation costs Talented / educated people Great scope for business, investments

4. The Sources of Instability in Black Sea Region The birth New state Actors in the region The imperfect political stability of the transitional countries Three largest armed forces (Russia, Turkey and Ukraine) Control over the armed forces Naval balances of the Black Sea Convention of the Law of the Sea Ecological problems Inhomogeneous economic systems

5. New concepts of 21st century The new concept of security; The new concept of economic cooperation;

6. Solving the problems in Black Sea Region Peace and stability Prosperity Economic cooperation

7. The organization of BSEC as Security Building Measure in Black Sea Region Establishing of the organization of Black Sea Economic Cooperation 25 June, 1992 in Istanbul 11 countries of Black sea region signed "Summit Declaration on Black Sea Economic Cooperation. Black Sea Economic Cooperation - BSEC – Countries

8. BSEC Countries Azerbaijan Albania Armenia Bulgaria Georgia Greece Moldova Romania Russia Turkey Ukraine

9. Obstacles for Security Building High security concerns and diversity of national security policies. Region countries lack a sense of regional interest and a common view of external threat. The Black Sea basin countries belong to different political and security organizations, Low degree of commitment to cooperation within the organization of BSEC. The fear of being dominated by larger Lack of implementation mechanisms within the organization of There is no efficient interface between BSEC and other organizations

10. Regional Stability and Security through Economic Cooperation The factors that will stimulate the region-building opportunities are: the effective utilization of the energy sector; the involvement of the private sector, of the private industries in general and the banks; the growth of the trade relations and the rise in the effectiveness of the BSEC; the involvement of the national political element in the regional cooperation: governmental, parliamentary and of local authorities; the evolution of the educational and cultural relations in the Black Sea region; the peaceful, friendly and stable bilateral relations of the 11 BSEC countries;