Challenges of economic integration in the Black Sea
Countries in the Black Sea region have largely failed to integrate with their neighbors, despite common levels of openness and dependence on foreign trade. For many countries in the region, trade has become a driving force for growth, accounting for on average one-third of regional GDP. However, Black Sea supply chains largely connect the region to the outside world – primarily Europe and Asia – instead of neighboring countries. Highly integrated trade relationships, like those seen in Southeast Asia, simply do not exist amongst Black Sea countries.