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Ukraine signs declaration to boost trade with Black Sea countries

Updated: 05 23 , 2017 14:23
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KIEV, May 22 -- Ukraine has adopted a joint declaration with other 11 countries of the Organization of the Black Sea Economic Cooperation (BSEC) to strengthen trade in the region, Ukrainian First Deputy Prime Minister Stepan Kubiv said on Monday.

"The document has officially confirmed the mutual commitment of the Black Sea countries to give priority to simplifying procedures and improving terms of trade," Kubiv wrote on Facebook.

The deal was adopted during the 25th BSEC summit in Istanbul, Turkey, he added.

The BSEC was founded in 1992 by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey, Ukraine and Serbia to ensure peace, stability and prosperity by means of cooperation.

On July 1 this year, Ukraine will take the six-month rotating presidency of the BSEC.

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