The Association to the Economic Universities of the South Eastern Europe countries (ASECU) was established in November 1996, having as founding members 24 Universities from Albania, Bosnia-Herzegovina, Bulgaria, Former Yugoslav Republic of Macedonia, Greece, Romania and Yugoslavia. By decision taken in the General Assembly of 2007, ASECU extended as an Association of Economic Universities of South and Eastern Europe and the Black Sea Region. Also, it was decided to accept associate members universities from the Middle East and North-Eastern Africa. This decision was taken in response to expressions of interest in joining the Association from economic universities in countries from these regions. Presently, ASECU amounts 59 universities (47 full and 12 associated members) from 20 countries.