Trade & Economic Development


The present Terms of Reference of the Working Group on Trade and Economic Development were agreed upon the Resolution of the 24th Meeting of the Council of Ministers of Foreign Affairs of the BSEC Member States (Bucharest, 8 June 2011).

I. The Mission of the Working Group:

1. General objectives

- To further promote regional trade cooperation and economic development by undertaking all necessary measures.

- To encourage the Member States to pursue actively, and in a sustainable manner, regional trade, its expansion and diversification by means of trade facilitation and liberalization.

- To pursue the Member States to promote business and investment-conducive climate.

- To cooperate closely with the private sector.

- To enhance cooperation with relevant international organizations and institutions.

- To exchange the best practice with the BSEC Business Council assisting business cooperation among the BSEC Member States.

2. Types of activities

- To cooperate with competent international organizations/institutions with the view to elaborate studies on the interaction of the national economies for the implementation of trade and economic development projects.

- To seek innovative ways for combining private investment and introducing public-private partnerships (PPP) in economic development for funding specific region wide projects, as well as providing and disseminating relevant information about procedures for assessing other available financial resources (EU, UN, IFI, Foundations, etc).

- To encourage exchange of information among the BSEC Member States (through the BSEC Organization and the BSEC Business Council websites and other available channels) on investment, trade rules and tender issues, specific projects or sectors which offer attractive investment initiatives.

3. Subsidiary Bodies and relevant events

- To follow the activities of the BSEC Related Bodies and the BSEC Working Groups and maintain open-ended relations with them.
- To cooperate at intra-BSEC level with relevant Related Bodies and Subsidiary Organs.

- To support MICE activities (meetings, incentives, conferences, exhibitions), and, if necessary, training facilities for maintaining exchange and consultations among business people and officials on entrepreneurship, modalities of trade and trade promotion at regional and world-wide markets.

The general objectives and types of activities stipulated in the present Terms of Reference should be in respect with international contractual obligations of the BSEC Member States.


The Working Group shall:
a) carry out the mandate defined by the Council in this ToR, as well as in the other resolutions, decisions and recomendations of the Council related to its activities;
b) draw up the cooperation projects and joint projects as well as pursue implementation of such projects/activities in the area of its competence;
c) aprove the priority areas for PDF funding in line with the two-year Plan of Action;
d) consider the reports of the subordinated Ad Hoc Working Grpoups, Group of Experts, Task Force and decide accordingly;
e) consider and approve the final documents (reports, conclusions, recommendations, summary of the proceedings, etc.) of the other BSEC events (seminars, workshops, symposia, conferences) or, whenever necessary, submit to the CSO together with the relevant draft decision;
f) submit to the Council reports on the progress of its activities, as well as relevant recommendations.