The Organization of the Black Sea Economic Cooperation (BSEC) is a regional international organization focusing on multilateral political and economic initiatives aimed at fostering cooperation, peace, stability and prosperity in the Black Sea region. It traces its origin to 25 June 1992, when Turkish President Turgut Özal and leaders of ten other countries gathered in Istanbul and signed the Summit Declaration and the "Bosphorus Statement". BSEC Headquarters – the Permanent International Secretariat of the Organization of the Black Sea Economic Cooperation (BSEC PERMIS) – was established in March 1994, also in Istanbul. With the entry into force of its Charter on 1 May 1999, BSEC acquired international legal identity and was transformed into a full-fledged regional economic organization: Organization of the Black Sea Economic Cooperation. With the accession of Serbia (then Serbia and Montenegro) in April 2004, the Organization’s Member States increased to twelve. North Macedonia's accession in 2020 increased the organization's membership to thirteen. An important aspect of the activities of BSEC is the development of SME and entrepreneurship in the member countries. Concerning these issues, a series of workshops have been organized in cooperation with Konrad Adenauer Foundation and ERENET. Membership Founding members: Later members: As seen above, membership has not been restricted to countries which have access to the Black Sea: Albania, Armenia, Azerbaijan, Greece, North Macedonia, Moldova, and Serbia do not have coastlines on the Black Sea, though the last two are connected through the Danube river corridor and Greece through the two sea straits. North Macedonia's application was vetoed by Greece after Turkey vetoed the previous application of the Republic of Cyprus, prompting Greece to cease to approve future applications from any country. However, North Macedonia was admitted into the bloc on 9 November 2020. Observer nations: Observer organizations: International Black Sea Club Energy Charter Secretariat European Commission Black Sea Commission Sectoral Dialogue Partner Countries: Sectoral Dialogue Partner organizations: Black and Azov Seas Ports Association (BASPA) Black Sea International Shipowners Association (BINSA) Black Sea Region Association of Shipbuilders and Shiprepairers (BRASS) Black Sea Universities Network (BSUN) Union of Road Transport Association in the Black Sea Economic Cooperation Region (BSEC-URTA) Conference of Peripheral Maritime Regions for Europe (CPMR) Danube Commission International Network for SMEs (INSME) World Tourism Organization International organizations: Eurasian Economic Union International Commission of TRACECA Interparliamentary Assembly on Orthodoxy Parliamentary Assembly of the Mediterranean The Central European Initiative United Nations United Nations Development Programme