  We embed the semilocal Chern-Simons-Higgs theory into an N=2 supersymmetric
system. We construct the corresponding conserved supercharges and derive the
Bogomol'nyi equations of the model from supersymmetry considerations. We show
that these equations hold provided certain conditions on the coupling constants
as well as on the Higgs potential of the system, which are a consequence of the
huge symmetry of the theory, are satisfied. They admit string-like solutions
which break one half of the supersymmetries --BPS Chern-Simons semilocal cosmic
strings-- whose magnetic flux is concentrated at the center of the vortex. We
study such solutions and show that their stability is provided by supersymmetry
through the existence of a lower bound for the energy, even though the manifold
of the Higgs vacuum does not contain non-contractible loops.
