The PABSEC has addressed the main aspects of the regional economic cooperation and put forward relevant recommendations aimed at achieving a higher degree of integration of the BSEC region into the world economy (rec. 59/2002). The Assembly has been promoting policies, along with institutional and regulatory reforms, towards a sustainable model of economic development in order to improve the living standards and meet the challenges of the new century. The Assembly’s recommendations on trade liberalization and facilitation (rec. 16/1996, rec. 22/1997, rec. 26/1998, rec. 37/1999), improvement of customs regulations (rec. 1/1994, rec. 20/1997), promotion and protection of investments (rec. 38/1999), establishment of a regional stock exchange market (rec. 25/1998) promotion of small and medium enterprises in the Black Sea region (rec. 42/2000) shaping a European Economic Space (rec. 72/2003), state and prospects of fisheries (rec.94/2007), are part of the Assembly’s efforts towards that end.
Acknowledging the significance of establishing conditions favorable to free trade through a gradual elimination of obstacles and restrictions in customs and trade regulations, the Assembly has reiterated its firm stand towards the creation of a harmonized trade mechanism in the region in compliance with internationally recognized principles, in order not only to increase trade volume among the BSEC countries but also to achieve a higher degree of their integration into the world economy (rec. 2/1994, rec. 23/1997).
The Assembly has also examined border-crossing formalities and visa regulations and elaborated recommendations envisaging a gradual elimination of visa formalities, starting by creation of favorable conditions for certain categories of citizens directly involved in the Black Sea Economic Cooperation – MP’s, diplomats, government officials and businessmen (rec. 7/1994, rec. 43/2000).
The growth of the ability and need to move large quantities of goods or numbers of people requires the coordination of policies and cross-border procedures among the BSEC Member States. At the same time, freer circulation of people and goods must be supported by enhanced police and judicial cooperation and border management (rec. 78/2004).