1. BSEC BUSINESS COUNCIL INVESTING IN THE BLACK SEA REGION
Dr. Costas Masmanidis
Secretary General

2. BLACK SEA ECONOMIC COOPERATION
What is BSEC ?
BLACK SEA ECONOMIC COOPERATION

3. BLACK SEA ECONOMIC COOPERATION
What is BSEC ?
BLACK SEA ECONOMIC COOPERATION
Economic Cooperation Organization
Created in 1992
12 countries

4. What is BSEC ? Albania Armenia Azerbaijan Bulgaria Georgia Greece
BLACK SEA ECONOMIC COOPERATION
Economic Cooperation Organization
Created in 1992
12 countries
Albania Armenia Azerbaijan
Bulgaria Georgia Greece
Moldova Romania Russia
Serbia Turkey Ukraine

5. The Black Sea Region

6. The BSEC Structure Council of Ministers of Foreign Affairs
Secretariat (Istanbul)
ca 20 Working Groups, eg:
Energy
Transport
Environment
etc
4 Related Bodies

7. BSEC Related Bodies Business Council Istanbul
BS Trade & Dev. Bank Thessaloniki
Parliamentary Cooperation Istanbul
Academic Cooperation Athens

8. BSEC BUSINESS COUNCIL

9. Our Strategic Directions (reflecting the needs of our SMEs)
BSEC BUSINESS COUNCIL
Our Strategic Directions
(reflecting the needs of our SMEs)

10. Strategic Directions BSEC BUSINESS COUNCIL
Promoting Regional Development

11. Strategic Directions BSEC BUSINESS COUNCIL
Promoting Regional Development
Promoting Business Cooperation

12. Strategic Directions BSEC BUSINESS COUNCIL
Promoting Regional Development
Promoting Business Cooperation
Disseminating Business Information

13. Strategic Directions BSEC BUSINESS COUNCIL
Promoting Regional Development
Promoting Business Cooperation
Disseminating Business Information
Helping SMEs Gain Competitiveness

14. BSEC BUSINESS COUNCIL Strategic Directions
Promoting Regional Development
Promoting Business Cooperation
Disseminating Business Information
Helping SMEs Gain Competitiveness
Helping improve the Business Climate / Eliminate Trade Barriers

15. BSEC BUSINESS COUNCIL Strategic Directions
Promoting Regional Development
Promoting Business Cooperation
Disseminating Business Information
Helping SMEs Gain Competitiveness
Improving the Business Climate / Trade barriers
Promoting Foreign Investments

16. Invest
in the Black Sea Region !

17. Why should you invest ? .

18. Why should you invest ?
Regional market of 1/3 billion people

19. Why should you invest ? Regional market of 1/3 billion people
Fast-growing economies

20. Why should you invest ? Regional market of 1/3 billion people
Fast-growing economies
Strategic position: Center of Eurasia

21. Why should you invest ? Regional market of 1/3 billion people
Fast-growing economies
Strategic position: Center of Eurasia
Energy resources & transport routes

22. Why should you invest ? Regional market of 1/3 billion people
Fast-growing economies
Strategic position: Center of Eurasia
Energy resources & transport routes
Great nature, culture: Tourism paradise

23. Why should you invest ? Regional market of 1/3 billion people
Fast-growing economies
Strategic position: Center of Eurasia
Energy resources & transport routes
Great nature, culture: Tourism paradise
Science & Technology

24. Why should you invest ? Regional market of 1/3 billion people
Fast-growing economies
Strategic position: Center of Eurasia
Energy resources & transport routes
Great nature, culture: Tourism paradise
Science & Technology
Competitive operation costs

25. Why should you invest ? Regional market of 1/3 billion people
Fast-growing economies
Strategic position: Center of Eurasia
Energy resources & transport routes
Great nature, culture: Tourism paradise
Science & Technology
Competitive costs
Talented, educated people

26. Regional challenges .

27. Regional challenges
Bureaucracy

28. Regional challenges
Bureaucracy
Corruption

29. Regional challenges Bureaucracy Corruption
Slow implementation of reforms

30. Continuous improvement !
Regional challenges
But…
Continuous improvement !

31. Regional challenges Bureaucracy Corruption
Slow implementation of reforms
Frozen conflicts

32. Why is FDI so important in the BSEC region ?
Economic benefits
Technical Know-how
Managerial Know-how
Other spill-over effects (eg, new mentalities)
Linking of local companies to global supply chains (globalization!)

33. What kind of FDI can provide maximum benefits in the BSEC region ?
Greenfield investments
in diverse Sectors

34. FDI inflows in BSEC
Rush in FDI since 2002

35. FDI inflows in BSEC (in billion USD)

36. Investment profile in BSEC
Rush in FDI since 2002
However, a big share is H/C - related
(exploration, upstream operations, pipelines etc)

37. Investments in BSEC
More greenfield / downstream investments needed, to help diversify the economies
Eg., in the Energy sector:
Speciality chemicals
Renewable Energy-related investments

38. Investment promotion in BSEC
One of the main strategic directions of the BSEC BUSINESS COUNCIL
is the improvement of the business / investment climate
and investment promotion.

39. Investment promotion in BSEC
New OECD regional project
on investment promotion
and sector competitiveness
To be launched with the cooperation of the BSEC Business Council
(October 20, Tirana)

40. BLACK SEA BUSINESS GATEWAY
BSEC BUSINESS COUNCIL
Visit our
BLACK SEA BUSINESS GATEWAY

41. BSEC BUSINESS COUNCIL
Thank you !