The fundamentals of the European Community and the Black Sea Economic Cooperation: a renewed institutional architecture for the BSEC

Abstract

There are significant differences between the basic principles and goals of the European Community (EC) and of the Black Sea Economic Cooperation (BSEC). For example, EC has been protecting its market against the products of the non-member states by means of the "Common Customs Tariff" and the "Import Quotas". But the BSEC does not introduce any restrictions on trade among the non-member states. In addition, the EC has been aiming "unification" in the political and monetary fields. Because of these reasons, it is wrong to evaluate these two stiructures within the same category. The most important objectives of the BSEC are to promote the trade volume between the member states, and to develop the "collaboration" on the areas that has strong chance of success. In order to realize these objectives, the members should maintain the peace in the region, and they should establish a strong "institutional architecture". Meanwhile, by considering existing problems in the BSEC region, a "multistage development plan" should be prepared. The application of that plan by the suggested institutional architecture will be the most accurate approach.