UNDP | Europe & CIS | UNDP Black Sea Trade and Investment Promotion Programme

UNDP Black Sea Trade and Investment Promotion Programme

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A recent study on the trade and investment potential among the BSEC countries, carried out by BSTIP, has identified an enormous untapped intra-regional trade potential amounting to 96 billion USD.

1 November, 2007

A recent study on the trade and investment potential among the BSEC countries, carried out by BSTIP, has identified an enormous untapped intra-regional trade potential amounting to 96 billion USD. The study will be used as a working document to allow, during the meeting, country representatives to agree on a list of priority sectors which will then represent the BSTIP workplan.

The programme is expected to promote regional economic development, develop trade and investment linkages between BSEC Member States with positive impact on the reduction of poverty and offers improved dialogue among countries with political tensions. Increased trade and investment links will be generated with the private sector of the region and new partnerships will be developed with business support organizations. The beneficiaries of the programme will be small and medium enterprises, and special emphasis will be given to enterprises managed by young and women entrepreneurs. The programme will be implemented in cooperation with local chambers of commerce and business support organizations.

National business support organizations in each of the BSEC country will be assigned the role of national focal point for the implementation of activities of the BSTIP. Indeed, the success of the Programme will depend critically on the active involvement of the business community in all BSEC Member States. At the same time, the BSTIP will provide opportunity to create capacity within the business support institutions of the region to take advantage of the sub-regional trade and investment expansion opportunities on a permanent and sustainable basis.

The Black Sea Trade and Investment Promotion Programme is co-financed by the Turkish Ministry of Foreign Affairs, the Greek Ministry of Economy and Finance, UNDP and BSEC. It is the first programme jointly co-financed by the Government of Turkey and Greece under the auspices of UNDP and is also the first partnership project between UNDP and BSEC.

The event will see the participation of the business support organizations (chambers of commerce, export promotion agencies, etc) from all the member countries of the Black Sea Economic Cooperation Organization (BSEC), namely Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Serbia, Turkey and Ukraine. Representatives from the BSEC institutions and all UNDP offices from the region will attend as well.

For more information, please contact: (contact Giuseppe Belsito, Programme Manager, UNDP Athens, +30-210-7701661, +30-210-7701664, email: giuseppe.belsito@undp.org, URL: www.undpforblacksea.org)