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THE EFFECTS OF THE BSEC ON REGIONAL TRADE FLOWS OF AGRI-FOOD PRODUCTS
Abstract
In this paper we have examined the evolution of bilateral trade flows of agricultural and food products among the Black Sea Economic Cooperation (BSEC) countries in the last decade. The analysis covered the main food products classified according to the international UN Comtrade classification (2-digit products classification). Developments of agri-food trade among the BSEC countries was analyzed using the methodological approach of the Network Analysis and Revealed Comparative Advantage through the Balassa Index. The obtained results reveal that agri-food trade is contributing to the integration of the BSEC countries, fostering the cooperation among the Black Sea countries, especially in this period characterized by strong international economic crisis. From these results we can argue that cooperation process in the BSEC area does not aim to increase agri-food trade flows through preferential treatment among the countries of the area, but rather to facilitate the movement of goods, services and production factors, in order to improve efficiency and promote competitively within the block of the Black Sea as a whole. In conclusion, the results of this paper highlight the role of the BSEC as an example of “new regionalism” for the agri-food sector, confirming how the regionalization of trade flows is not an obstacle to globalization, rather a “stepping-stone” that contributes to increase economic competitiveness of the Black Sea area.
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