United Nations Economic Commission for Europe United Nations Industrial Development Organization World Bank World Trade Organization Structure Summit Meetings of the Heads of State or Government of the Member States meets regularly every 5 years; Council of Ministers of Foreign Affairs is the main decision-making organ of BSEC, and meets twice a year; The Council of Ministers meets to achieve consensus on specific issues; The Committee of Senior Officials meets 4 times a year and acts on behalf of Ministers of Foreign Affairs; The Subsidiary Organs formed by the Council of Ministers of Foreign Affairs deal with their mandate defined by the Council, prepare joint projects and follow the implementation of these projects. Working Groups and Groups of Experts are the Subsidiary Organs; Chairmanship-in-Office coordinates all activities of BSEC, as well as, it controls the proper conduct of the activities of the organization and implementation of the Resolutions and Decisions adopted by the Council. In English alphabetical order, one of the Member States heads the Chairmanship-in-Office every 6 months. Chairmanship in BSEC is performed by Ukraine for the term of 1 July - 31 December 2017. Related bodies Related bodies of BSEC carry out their functions due respect to the principles of BSEC defined in the Summit Declaration of 25 June 1992 and in the Charter. They have their own budget. Parliamentary Assembly of the Black Sea Economic Cooperation (PABSEC) The Parliamentary Assembly of the Black Sea Economic Cooperation based in Istanbul, is the inter-parliamentary consultative institution of the organization formed based on the Declaration on the Establishment of the Parliamentary Assembly of the Black Sea Economic Cooperation on February 26, 1993 by 9 founding states. Greece joined PABSEC in 1995, Bulgaria joined in 1997, and Serbia (former Serbia and Montenegro) joined in 2004. Representatives of Parliaments of member countries pursue objectives which are stated in the preamble of the PABSEC Rules and Procedures: insure the understanding and adoption of the ideas and objectives of BSEC; provide a legal basis for social, economic, cultural, commercial and political cooperation among the member states; provide support to the national parliaments to reinforce the parliamentary democracy; pass the legislation required for the implementation of the decisions adopted by the Heads of States or by the Ministers of Foreign Affairs. Main bodies of PABSEC are General Assembly, Standing Committee, the Bureau, Committees, the President, the Secretary General, and the International Secretariat.The Assembly is composed