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The Need Of A New Regional Cooperation On The Black Sea Region

Author

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  • Virgil Nicula

    (Lucian Blaga University of Sibiu, Faculty of Economic Sciences)

Abstract

The Black Sea region is a distinct geographical area rich in natural resources and strategically located at the junction of Europe, Central Asia and the Middle East With a large population, the region faces a range of opportunities and challenges for its citizens. The region is an expanding market with great development potential and an important hub for energy and transport flows. It is, however, also a region with unresolved frozen conflicts, with many environmental problems and insufficient border controls thus encouraging illegal migration and organised crime. In spite of significant positive developments in the last years, differences still remain in the pace of economic reforms and the quality of governance among the different countries of the region. A dynamic regional response to the issues can greatly benefit the citizens of the countries concerned as well as contribute to the overall prosperity, stability and security in Europe.

Suggested Citation

  • Virgil Nicula, 2008. "The Need Of A New Regional Cooperation On The Black Sea Region," Revista Economica, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 39(2), pages 7-16.
    • Handle: RePEc:blg:reveco:v:39:y:2008:i:2:p:7-16
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