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Yerevan, June 25, ARMENPRESS. On 25 June 1992 in a summit was convened in Istanbul at the result of which the leaders of 11 states from the Black Sea region (Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Turkey, and Ukraine) signed a declaration on founding the Black Sea Economic Cooperation. After the adoption of the BSEC Charter on 1 May 1999 it turned into a full-fledged organization. Serbia, as a member, joined the organization in 2004. The Organization of the Black Sea Economic Cooperation is to strengthen the stability in the Black Sea region through economic cooperation. As reports "Armenpress", the overall territory of the member states Member States is about 20 million square kilometres with 350 million population, covering the Black Sea, Balkans and Caucasus regions on two continents. The annual trade turnover between the Member States is more than 300 billion U.S. dollars. Member States assume chairmanship for six-month term, according to the alphabetical order. The summits are convened regularly. The Council of the Ministers of Foreign Affairs of the BSEC member states is the highest decision-making body. Board meetings are convened twice a year, in June and December, and when necessary held special or non-official meetings are being held as well. More than twenty states and international organizations have observer status in the BSEC organization or cooperate with it. Since August 2001 the Permanent Representation of the Republic of Armenia to BSEC operates in Istanbul. Since March 2010 it is headed by Michael Vardanian. In 1994, the BSEC Permanent International Secretariat was established in Istanbul. Since July 2012 Secretary General of the BSEC Permanent International Secretariat is Viktor Victor Tvircun (Moldova). Starting from 1995, in BSEC "Troika" format is used, which includes the former, current and future chairing countries. Currently, the members of the "Troika" are Turkey, Ukraine and Armenia. BSEC Organization has observer status in the United Nations. On 1 July Armenia will officially assume the chairmanship-in-office of the BSEC organization. On 21 June in his speech at the 28th meeting of the Ministers of Foreign Affairs of the BSEC member states in Odessa, Armenian Foreign Minister Edward Nalbandian noted that the BSEC Organization enters to the 22th year of its activity with a new agenda of economic partnership, and Armenia makes active steps towards the materialization of the new agenda of the Organization and foster a mutually beneficial cooperation in the region. Armenian Foreign Minister stated that Armenia has initiated the second phase of creating “Technology Transfer Network” which was initiated by Armenia and has a great importance for the development of information technologies in the region. The preparatory work to create the Association of the BSEC Information and Communication Technologies is also continued. During the Armenian presidency in BSEC Organization a meeting of high-ranking officials of the IT sphere will be held in Yerevan in parallel to the “Digitec 2013” annual exhibition. There activities are aimed at the increase and development of the information and communication technologies in the region. Edward Nalbandian also stressed that Armenia gives a great importance to exerting new efforts for fostering economic partnership in BSEC region and advance the efficiency of the organization as well as enhancing its authority in the international area. Armenia highlights the importance of cooperation in the spheres of transport, science, technology, culture etc. BSEC member states have signed several agreements and memorandums. Important documents were adopted concerning natural disasters, organized crime and terrorism, transportation, energy, trade, agriculture, small and medium-sized businesses, customs affairs, science and technology, telecommunications, environment, health, education, tourism, culture and other areas of cooperation.