The Russian State Duma has ratified the memorandum on coordinated
development of the ring-road around the Black Sea, Yuga.ru reports.
The document was signed in Belgrade on April 19, 2007, and came into
force on November 1, 2008. The memorandum is aimed at improving ties
between the Organization of Black Sea Economic Cooperation (OBSEC) and
to construct and reconstruct the roads that are part of the ring-road
around the Black Sea, RIA Novosti reports.
The main and auxiliary roads will go through Turkey, Georgia, Armenia,
Azerbaijan, Russia, Ukraine, Moldavia, Romania, Bulgaria, Serbia,
Albania and Greece. The road will be approximately 7000km long.
Participants of the project are expected to cooperate in designing,
constructing, maintaining and using the highways. Financing of the
project will be realized using state and private funds.
The memorandum will be in force for 9 years and will be prolonged by 5
years if two thirds of the sides do not apply for its closure.
