Azernews.Az

The Azerbaijani capital Baku hosted the 47th bureau meeting of the Black Sea Economic Cooperation (BSEC) as part of the BSEC Parliamentary Summit on Monday.

Azerbaijani Parliament Speaker, BSEC Parliamentary Assembly President Ogtay Asadov said all meetings and sessions held in the frame of BSEC open up new opportunities for the organization's member states.

"I'm sure that the decisions adopted at the Baku meeting will give an impetus to encouraging cooperation between BSEC member states within the organization and on bilateral level," Asadov noted.

The meeting participants passed decisions on fulfilling the protocols of BSEC's last year meeting, BSEC committee recommendations made during the Baku meeting, and issues included in the agenda of the 40th BSEC Parliamentary Assembly meeting to be held in Baku on November 27-28.

In accordance with the decision adopted at the organization's standing committee meeting in Baku, a conference of the BSEC Parliamentary Assembly speakers will be convened in Varna, Bulgaria in May 2013. As part of the event, the fourth Black Sea Trade and Investment Forum will take place.

BSEC was established on June 25, 1992, on the basis of the Istanbul Summit Declaration and the Bosphorus Agreement signed by 11 heads of state. The key objective of the organization is to support multilateral political and economic initiatives in the Black Sea region. The organization comprises 13 countries.