At today’s summit in Bucharest, Victor Yushchenko said energy cooperation in the Black Sea region could be more systematic and effective and strengthen the role of the Black Sea states in formulating strategy of Europe’s energy security, according to the President’s press-office.

The President suggested they should create a new consultative mechanism, Energy Dialogue of Three Seas, to develop energy cooperation, carry out energy policies in the region and consider topical energy projects.

“It will help us improve cooperation between the countries of the Black Sea-Baltic-Caspian region and EU and also unite energy suppliers, transporters, and consumers,” he opined. 

In his speech, Mr. Yushchenko said the dynamics of the hydrocarbon market made it imperative to diversify energy supplies and open new transportation routes in Central Asia. He welcomed the recent launch of the Baku-Tbilisi-Ceyhan pipeline, describing it as “an important event of global significance.” 

Then the Head of State said Ukraine would build an industrial port in Donuzlav to expand transportation capabilities in the Black Sea region and urged those present to take part in the project.

He also spoke about ecological cooperation in the region.

“Our common sea and Black Sea region treasure unique environmental heritage. We must spare no effort to preserve its biologic diversity,” he claimed, adding that the states must immediately start to complexly monitor the environment of the Danube.

Romanian President Traian Basescu said the Black Sea Forum would be open to other countries sharing and supporting its principles and ideas. He added that the states should elaborate and present a Black Sea Charter.

Armenian President Robert Kocharyan said the Black Sea states should focus on factors that help them consolidate. 

Azeri President Ilham Aliyev opined that the forum was a good occasion to reevaluate future prospects of developing cooperation in the region. He said Azerbaijan actively participated in transportation projects contributing to regional cooperation. 

Moldovan President Vladimir Voronin said “the forum can and should become a place to develop effective transnational mechanisms of effective cooperation.”

The Heads of State agreed to develop regional cooperation. They also discussed ways to settle so-called frozen conflicts. Then the leaders signed a Joint Declaration.