In this paper we propose and reason for launching SEE Cooperative Crisis Management Initiative aimed at developing sustainable regional Cooperative Crisis Management Capacity, seen as a set of Cooperative Crisis Management Capabilities to deal with the most probable crises in SEE. The proposal is based on critical assessment of the achievements of related security cooperation in South East Europe. The paper elaborates the purpose, the advantages and the mechanics of implementation of the proposal. Key to its advance is to define the scope so that the initiative adds to, coordinates and streamlines ongoing efforts without considerable duplication. Essential is the establishment of a Regional Crisis Management Centre, i.e., on the premises of the SEEBRIG HQ in Plovdiv, Bulgaria, after the HQ transfers to Romania in 2003.