After 15 years since the end of the Cold War, the Black Sea region stays as «terra incognita» forthe European politicians. The same referring to the Black Sea states afterthe collapse of the Soviet Union. These countries failed to develop sustainable mechanism of the political and economic cooperation. In the meantime the importance of the Black Sea as the main transport corridor between Central Asian oil and gas resources and Europe will grow year in year. "Neglected shore of Europe" already undergoes significant changes. Accession of Bulgaria and Romania to the EU assigned for the year 2007, launching of the negotiations between EU and Turkey in October 2005, and finally democratic revolutions in Georgia and Ukraine, all created unique historical moment. The Black Sea region is setting course for democracy and development, to what extents this journey will be successful and safe, depends on strategies chosen by the Black Sea countries both at the level of bilateral and multilateral relations between each other and at the level of the common regional policy and interaction with "big players" outside the region. (Introduction, fragment)