In the period, August, 19 – 20, 2011, the 7th Session of the Board of Directors of the International Fund for Cooperation and Partnership of the Black Sea and the Caspian Sea (BSCSIF) was held in Moscow, Russian Federation. During the Board Meeting very important and actual issues have been discussed: economic cooperation of the countries from the Black sea – Caspian sea region, intercultural dialogue, role and strengthening of religious tolerance, the establishment of the BSCSIF branch in Bulgaria, the organization of the conferences of mayors from capitals and large cities, as well as the conference of entrepreneurs from the countries of the region. Within the Session implemented and future projects, cooperation proposals were presented, and the statement on the Commission for Innovations and Investments was approved. On the occasion of passing over the presidency to Russian Federation, the BSCSIF President, Mr Viktor Khmarin held an official dinner, where participated the Ambassadors of the member countries, accredited to Russian Federation, and the representatives of international organizations – Council of Europe, OSCE, UN and EU .