Xenophon Paper 2 pdf - ICBSS

Fund of the BSEC. Along with the UNDP and Turkey, Greece finances the ‘Black Sea
Trade and Investment Programme’. The programme organises sector-focused events,
so-called ‘Partnership Fora’ to generate inter-regional trade and investment, creating the
capacity within the Black Sea business institutions on a permanent and sustainable
basis. 20
The second Greek Chairmanship of the BSEC, in the period November 2004 - April
2005, had been the most active one since the establishment of the Organisation as far
as the number of events and meetings held as well as regarding the comprehensiveness
of the agenda. 21 During the Hellenic Chairmanship, seven ministerial meetings were
held, on transport, energy, tourism, fight against organised crime, good governance,
education, research and technology presided by a number of the respective Working
Groups. During the Hellenic Chairmanship progress was made in the field of combating
crime with the conclusion of the ‘Additional Protocol on Combating Terrorism to the
Agreement among the Governments of the BSEC Participating States on Cooperation
in Combating Organised Crime’ (Athens, 3 December 2004).
At the same time, an effort was made to strengthen the organisation’s internal structures
launching thus the reform of the decision–making mechanisms of the Organisation.
On the basis of Greece’s role as the Country Coordinator in five out of the seventeen
main BSEC Working Groups (i.e. Banking and Finance, Culture, Education, Institutional
Renewal and Good Governance and finally, Tourism) we can argue that Greece has
currently displaced particular interest in the following sectors of regional cooperation.
Banking and Finance. Maintaining the primarily economic character of the organisation
has been a concern for Greece thus the country has been particularly active in relevant
fields of cooperation. Greece can be considered (along with Turkey) as having the most
mature banking sector, and definitely the most stable one, in the region and in this
respect it has been considered as the most appropriate country to lead the relevant
Working Group. The fact that Greece lobbied and succeeded in having the headquarters
of the Black Sea Trade and Development Bank in Thessaloniki is indicative of the
importance that it placed not only in trade facilitation but also in securing financing
regional economic activities. The interest of Greece in modernizing the banking and
financial markets in the Black Sea region has been underscored by the rapid expansion
of Greek trade and investments towards its northern neighbourhood. A vibrant financial
system is a prerequisite for any type of economic activity to flourish and for meaningful
regional economic cooperation. As global trends indicate today’s globalisation is mainly
20 Information on the Programme is available on http://www.undpforblacksea.org.
21 For the priorities of the Hellenic Chairmanship see Hellenic Ministry of Foreign Affairs (2004), Bringing BSEC
Closer to the European Union, Athens.
76 UNFOLDING THE BLACK SEA ECONOMIC COOPERATION VIEWS FROM THE REGION