BSTDB HOSTS A MEETING OF THE BSEC WORKING GROUP ON TRADE AND ECONOMIC DEVELOPMENT
Press Release | 08-Dec-2000
On December 7-8, 2000 in Thessaloniki, BSTDB hosted a meeting of the Working Group on Trade and Economic Development of the Organization of Black Sea Economic Cooperation (BSEC). The meeting gathered representatives of trade and economic development authorities and trade promotion centers from Bulgaria, Georgia, Greece, Romania, Russia, Türkiye, as well as heads of BSEC Business Council and International Center for Black Sea Studies. Mrs. Daniela Bobeva, Vice - President of BSTDB co-chaired the meeting.
The discussions focused on establishing Export Promotion Centers and Export Credit Agencies in the countries of the Black Sea region, as well as on trade finance programmes and products offered by BSTDB to stimulate intra regional trade. The delegations shared national experiences gained in trade promotion and relevant policies, and considered ways to strengthen regional cooperation in this field, making use of new opportunities provided by BSTDB. The national delegations agreed to provide information support to BSTDB and facilitate the dissemination of information on the Bank's trade finance products in business communities of their respective countries.
BSTDB is going to further support the activities of BSEC working bodies in strategic areas, thus facilitating closer business and trade links among countries of the Black Sea region.
The Bank supports economic development and regional cooperation by providing financing for projects and trade transactions to public and private enterprises in its member countries.
The Trade Facilitation Programme is a major priority of BSTDB. At the moment the Bank provides short-term trade financing, including Pre-Export Financing and Guarantees, offered through selected commercial banks in member countries. By the end of the year 2000 BSTDB has approved more than USD 40 million for trade financing in its member countries.
The Organization of Black Sea Economic Cooperation (BSEC) was launched in 1992 by 11 countries: Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Türkiye, and Ukraine. The BSEC's aim is to develop the Black Sea region into a zone of peace, stability and prosperity through economic cooperation in the areas of trade, communications, transport, energy, agriculture, environmental protection, banking and finance, statistics, science and technology, tourism, health care, etc. The Permanent International Secretariat of BSEC is located in Istanbul (Türkiye).