Azerbaijan, Baku /corr. Trend / Black Sea Economic Co-operation (BSEC) member-countries made a decision to establish a leading committee by the end of 2007 for the project on constructing a ring road around the Black Sea, the Transport Ministry stated on 11 July. The first organizational and constituent assembly took place on 5 July in Istanbul, within the meeting of the BSEC Council of Transport Ministers and the second meeting is expected to take place in September.
The ring road around the Black Sea will be via the territories of all twelve BSEC countries, with its length comprising some 7,000km.
Making a speech at the meeting, the Transport Minister of Azerbaijan, Ziya Mammadov, expressed the country's interest in participating in such projects.
The project will be financed through the special fund accumulating finances of the Black Sea Bank for Reconstruction and Development.
BSEC uniting Armenia, Azerbaijan, Albania, Bulgaria, Greece, Georgia, Moldavia, Russia, Romania, Serbia, Turkey, and the Ukraine was founded in Istanbul in June 1992. Thirteen countries including Belarus, Germany, the United States, and France, have the status of observers.