20.4.2007

4,700-mile Black Sea ring road plan to boost trade

Twelve countries agreed yesterday to create a 4,700-mile motorway ring road around the Black Sea to boost economic co-operation.

The foreign ministers of Turkey, Russia, Ukraine, Greece, Albania, Bulgaria, Romania, Georgia, Azerbaijan, Armenia, Moldova and Serbia agreed on the project at a conference of the Black Sea Economic Co-operation (BSEC) body in Belgrade.

Existing roads will be upgraded and linked up under the project. Twelve lorries, one from each country, were sent to test the current state of roads and make recommendations.
"Road construction and rehabilitation is vital to build ties among the EU, Black Sea and Asian countries," a statement said.

"The road is of extreme importance. It would facilitate economic co-operation and conflict resolution," said Leonidas Chrysanthopoulos, the BSEC secretary-general. The cost of the project and date of completion were not set.
The BSEC, established in 1992, represents a region that is the second largest source of oil and natural gas after the Gulf, with annual foreign trade of more than $300 billion.

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