Enhancing European and Transatlantic Economic Cooperation

ABOUT

The Initiative includes the 12 EU member states located between the Adriatic, the Baltic and the Black Seas: Austria, Bulgaria, Croatia, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Slovakia and Slovenia.

The Dubrovnik Summit in 2016 opened the dialogue under the aegis of the Three Seas Initiative, followed in 2017 by the Warsaw Summit, where the 12 Three Seas Initiative states were joined by the US President, Donald Trump. The third Summit will be hosted by Romania, in Bucharest, during 17-18 September 2018.

Based upon the potential and dynamism of states and societies in Central and Eastern Europe, and noting equally the limited interconnections in different sectors among these states, the Three Seas Initiative aims at stimulating more rapid development of the region encompassing the Baltic, Black and Adriatic Seas. This is to be achieved through both high level and multi-stakeholder commitment to boosting up connectivity among the member states, with special focus on infrastructure, energy and digital interconnectivity.

The improvement of the infrastructure connections of the 12 states is an essential condition for building an area of stability and prosperity, which in turn can greatly contribute to wider EU stability and prosperity. Setting a new dynamic of cooperation among the countries lying at the Eastern border of the EU on the North – South Axis will advance economic growth and help to bridge the East – West economic gap, within the EU.

Thus, the overarching rationale for the Initiative is to facilitate achieving real convergence among EU member states, helping participating states to the Three Seas Initiative to get closer to the economic development level of the other EU member states, thereby contributing to enhanced EU unity, increased EU cohesion and coherence, further EU integration, as a basis for the re-launching of the European project.

The private sector’s role as an active partner is critical to the Initiative’s success and sustainability in the long-term. The creation and efficient functioning of a Three-Seas Business Forum, as decided by the Warsaw Joint Declaration of the Three Seas Initiative, of 6 July 2017, will facilitate the public-private engagement necessary to ensure the completion of the Three Seas Initiative’s ambitious goals for lasting development across the Adriatic, Baltic, and Black Sea region.

The 3SI countries are preparing a series of regional strategic projects, in the three areas of interest – infrastructure, energy and digitization. The projects will boost cooperation among companies in the 12 countries and beyond, as well as public-private partnerships throughout the region.