It came into existence as a unique and promising model of multilateral political and economic initiative aimed at fostering interaction and harmony among the Member States, as well as to ensure peace, stability and prosperity encouraging friendly and good-neighborly relations in the Black Sea Region.

The BSEC Headquarters- the Permanent International Secretariat of the Organization of the Black Sea Economic Cooperation (BSEC PERMIS) – was established in March 1994 in İstanbul.

With the entry into force of its Charter on 1 May 1999, BSEC acquired international legal identity and was transformed into a full-fledged regional economic organization: Organization of the Black Sea Economic Cooperation. With the accession of Serbia in April 2004, the Organization’s Member States increased to twelve.

BSEC covers a geography encompassing the territories of the Black Sea littoral States, the Balkans and the Caucasus with an area of nearly 20 million square kilometers. BSEC region is located on two continents and it represents a region of some 350 million people with a foreign trade capacity of over USD 300 billion annually.

Source: Ministry of Customs and Trade

Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

Mutual trade turnover of Kyrgyzstan with the EAEU totaled $42.5 billion or 93.3%  to the 2015 trade turnover.

Mineral products have the biggest share in the commodity structure of mutual trade turnover –  27.1%, and 85% of them are supplied by Russia.

Machinery, equipment and vehicles have 17.5% in the trade turnover structure and 54.7% of these goods are supplied by Russia and 41.9% by Belarus.

The share of food and agricultural raw materials is 16.1%, chemicals – 12.4%.

Compared to 2015, Kyrgyzstan’s exports to the EAEU have increased by 4.4%. Kyrgyzstan saw its textile products’ export down in 2016 by 9.2%.

Source: akipress.org

Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.