THE BLACK SEA ECONOMIC COOPERATION ORGANIZATION AND ITS STRENGTHS AND WEAKNESSES IN PROMOTING THE GLOBALIZATION OF THE BLACK SEA REGION: 1992-2012/KARADENIZ EKONOMIK ISBIRLIGI TESKILATI VE KARADENIZ BÖLGESININ KÜRESELLESMESINI DESTEKLEMEKTEKI GÜÇLÜ VE ZAYIF YÖNLERI: 1992-2012

This article seeks to explore the organizational development of the Black Sea Economic Cooperation Organization and its contributions to the globalization of the Black Sea region as well as the regional cooperation among its members since its establishment in 1992. It also evaluates the performance of this regional organization in terms of its strengths and weaknesses. The article argues that given the difficulty of promoting regional cooperation in a region divided by the Cold War heritage and mentality, the Black Sea Economic Cooperation Organization has been relatively successful not only in bringing the regional countries together, but also in embracing the benefits of globalization. This organization has played a crucial role in stabilizing the relatively unstable parts of Wider Europe: the Balkans and the Caucasus. The Black Sea Economic Cooperation Organization has promoted common interests among its members through projects especially in the areas of trade, transportation and energy. The paper also assumes that in order to overcome the existing problems in promoting regional cooperation in the Black Sea, there is a need for a more liberal approach to regional issues, emphasizing the promotion of multilateralism, civil society and cross-border cooperation at all levels of regional cooperation. [PUBLICATION ABSTRACT]