Organization of the Black Sea Economic Cooperation—BSEC

Abstract

The Black Sea Economic Cooperation (BSEC) aims to ensure that the Black Sea basin is stable and committed both politically and economically. Nevertheless, the Organization which is composed of 12 member countries has been fully displaying its global potential since its inception. The aim of this study is to demonstrate the comparative advantages and competitiveness of the countries of the Black Sea Economic Cooperation Organization in the global markets. The results of the study show that BSEC countries generally have comparative advantages in the export of raw materials and labor intensive products in international markets. At the same time, The mentioned countries have a competitive disadvantage in the global markets in the export of R&D and technology intensive products.