The RCC replaced it because it is more "regionally owned" than the Stability Pact, which was driven more by outside partners such as the EU.

All of the countries of the region, except for Serbia and Montenegro (then FR Yugoslavia) and Moldova, were present at the founding conference.

Representatives of Bulgaria, Romania, Russia, Turkey, United States, all members of the EU at the time, OSCE, Council of Europe and European Commission were also considered active participants.

The last meeting of the SPSEE took place on 28 February 2008, in Sofia, Bulgaria when it was succeeded by the Regional Cooperation Council.

Apart from its Director WT I relies on the work of two experts Srđan Cvijić and Talia Boati.