REGIONAL COOPERATION IN THE BLACK SEA BASIN

Topicality. The Black Sea region is situated in a very important geopolitical manner. Consequently, a large-scale regional collaboration becomes possible within the Black Sea zone and countries get appropriate conditions to launch their activity in this context. Aim: The body of the article is going to analyze the BSEC as one of the most successful regional organizations in the Black Sea area. The paper aims to provide an overview of the regional players’ activity in the framework of the BSEC which are involved in sustaining and strengthening of this organization and also in continuing the reform process in it, developing in the same time relations of cooperation with the EU and other regional initiatives. Methods. This article embraces a row of different scientific methods of data analysis, predictive analytics, historical and statistical overview, descriptive method, case study etc. Results. The countries from the Black Sea basin are the most vulnerable to potential risks and shocks due to the instability of the region. This requires the interstate cooperation in the Black Sea area with no tradition in this field several decades ago. In the same time, countries like Turkey, Romania or Russia aspire to play the role of the regional leader, which can cause regional rivalries. With the help of the regional cooperation and the BSEC in particular, regional countries could learn how to work together for the common benefit. The creation of stable markets, interconnected and transparent regional organizations and initiatives would largely contribute to the security and stability of the Black Sea region.