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The Black Sea Trade and Investment Promotion Programme Launched

On November 29 the Ministry for Economic Development and Trade of Russia hosted a presentation of a new project, recently launched by the United Nations Development Program (UNDP) - Black Sea Trade and Investment Promotion Programme.

The welcome speeches were made by:
• Mrs. Kori Udovicki, Assistant Administrator and Regional Director
UNDP Regional Bureau for Europe and CIS
• Mr. A. Karpych, Deputy director of Department for Foreign Economic Relations, Ministry for Economic Development and Trade
• Mr. S. Goncharenko, Deputy Director of Department for Economic Cooperation, Ministry for Foreign Affairs of Russia.

Representatives of the Ministry for Foreign Affairs and the Ministry for Economic Development of Russia underlined the importance of cooperation between the Black Sea Economic Cooperation and the United Nations Development Program, confirmed great potential of Programs’ activities.

Among the participants of the presentation were representatives of the federal authorities, Russian and regional business support organizations, diplomatic missions of BSEC countries in Russia.

This program, financed by the Government of Republic of Greece and the Government of Republic of Turkey in partnership with UNDP and the Black Sea Economic Cooperation (BSEC), is aimed at supporting trade and investment flows in member-states of the BSEC: Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Serbia, Turkey and Ukraine.

The Trade and Investment Promotion Programme is unique in offering a complex approach to expansion of the intra-regional trade and investment links by identifying the untapped investment and trade potential in the sub-region. Importantly, private sector organizations are to become essential partners in the Programme implementation.

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