The Memorandum stipulates a plan for building a circular high-throughput highway stretching for 7,140 kilometres, which will pass through Istanbul (Turkey), Samsun (Turkey), Trabzon (Turkey), Batumi (Georgia), Poti (Georgia), Novorossiysk (Russia), Rostov-on-Don (Russia), Taganrog (Russia), Mariupol (Ukraine), Melitopol (Ukraine), Odessa (Ukraine), Chisinau (Moldova), Bucharest (Romania), Haskovo (Bulgaria), Edirne (Turkey), Istanbul (Turkey), Komotini (Greece), Alexandroupolis (Greece) and Istanbul (Turkey).
The Memorandum’s ratification and further implementation of the project to build a ring highway around the Black Sea will create a modern road infrastructure in the Black Sea area and enhance trade, the economy and tourism thus promoting economic and social development in the Black Sea region, as well as the entire European continent.
The Memorandum was signed by the Governments of the member states of the Organisation of the Black Sea Economic Cooperation on April 19, 2007 in Belgrade, Serbia.