Enhancing European and Transatlantic Economic Cooperation

The development of modern transport infrastructure is critical for economic growth and regional, European and international trade. It facilitates efficient movement of goods and services and access to global value chains. Effective transportation infrastructure will contribute to the levelling out of regional imbalances within the 3SI region and across Europe. Developing Central and South-East Europe’s regional transportation infrastructure is a priority. These cross border transport projects are more than simple transport routes. They are genuine economic corridors that promise to generate countless commercial initiatives. They are investment opportunities that will benefit the entire European Union. They are synchronized with existing transport projects launched within the EU connectivity cooperation frameworks. What progress has been made and what needs to be done to generate the political and financial support necessary to drive forward the 3SI priority transport projects?

3SI objectives include integrating the oil, gas and electricity networks of the region’s countries, deepening their linkages to those of a wider Europe, and ensuring the region’s access to global energy markets. These are critical to the completion of the European Energy Union. They will prompt Europe-wide economic growth and strengthen Europe’s energy security. What must be done to further develop Central and South-East Europe’s energy infrastructure? What projects stand among this region’s most important regional energy connectors? What must be done to politically and programmatically drive forward these energy infrastructure projects in the 3SI region?

Digital connectivity is an increasingly important – and very dynamic – driver of economic growth. Digital technologies enhance efficiency, reduce costs and enable more efficient engagement of customers and business partners. Currently, 9 out of 12 countries in the 3SI area rank below the EU average on the Digital Economy and Society Index (DESI) that tracks the evolution of EU member states in digital competitiveness. Therefore, digitization is a must for European businesses and economies as a whole and the Three Seas region must improve its digital performance and close the gap between the most and the least digital countries. How can telecom infrastructure contribute to the expansion of innovative businesses and to the development of the digital economy in the Central and South-East Europe and facilitate the region’s integration into the wider European market? What are priority investments in the region based on the European Commission’s Strategy for the Digital Single Market? How can 3SI participating states leapfrog and adopt a last-generation telecom and digital infrastructure? How can the urban-rural digital divide be reduced in the region? What measures must be taken to make the digital economy and society more inclusive? What political and programmatic steps need to be taken to implement the priority digitization/telecom infrastructure projects? 

Although the 3SI is an economic oriented initiative, its impact in the region and within EU as a whole is no doubt strategic. Beyond civil and economic use, current and new transportation corridors must be robust enough to ensure enhanced military mobility as well. In the field of energy, there is a need to create favorable conditions for a truly integrated energy market, a strong component of the EU Energy Union, free from negative external political influences. In the digital field, the economic and infrastructural development of a new digital economy will ultimately lead to the strengthening of the defensive capabilities in the field of cybersecurity and smart defense. How does transportation, energy, and digital infrastructure shape not only the economic growth, but also the resilience of the 3SI region and its standing within Europe and within the global economy? What are the strategic advantages and implications of these interconnections?

Panel developed with the support of the American-Romanian Business Council (AMRO) and the American-Central European Business Association (ACEBA). Three Seas defense industries face a world of increasing geopolitical assertiveness featuring ever more complex symmetrical and asymmetrical threats, from both state and non-state actors. These industries constitute a significant defense capacity, including a mix of established and emergent defense industries.  How can the 3SI defense industry most effectively serve the interests of the transatlantic community and prosper? Increasing defensive capabilities is not just about buying the latest technology, but also about having a profound understanding about how defensive systems work together and identifying gaps in the strategic approaches. The panel will explore current and emergent military requirements that should drive defense industrial activity in the region. It will discuss how to enhance the defense technology industrial base in the Three Seas region, how to foster greater cooperation with U.S. and other European defense industries, and how to eliminate obstacles to that cooperation. The panel will explore 3SI defense procurement and research & development opportunities relevant to multinational defense industrial collaboration, as well as the contribution of the latter to the overall development of the 3SI region.

To complete the vision of a Europe whole and free, the 3SI must look regionally beyond the EU countries and address the infrastructural integration of Eastern Europe and the Western Balkans. How can and should the 3SI address these regions so as to contribute to the implementation/substantiation of EU’s relevant policies and complement ongoing initiatives focused on the Western Balkans and the Eastern Partnership countries? How can we maximize the 3SI’s potential to enhance the attractiveness of the European and Euro-Atlantic perspectives for the countries in these regions?

Generating stronger economic growth in Central and South-East Europe is the main objective of the 3SI. Its achievement would bridge the development gap within the EU, that too often is leading to political tensions, and thereby strengthen the Union’s cohesion and resilience. How can the 3SI complement and reinforce the EU’s development of a single European economy? How can the fact that the 3SI region includes the fastest growing economies in the EU be used to this purpose? How can the priority projects of the 3SI be more effectively promoted within the European Union? The creation of an Investment Fund of the Three Seas Initiative could be a concrete instrument to generate co-financing for 3SI priority projects. 

Democratic principles and the rule of law are foundation blocks of the western community of nations. They are critical to the development of resilient and efficient economies. The business environment needs predictable, stable countries, committed to maintaining and strengthening the rule of law and an independent justice system. How does the current state of the rule of law and democracy in Central and South-East Europe influence the region’s sustainable economic future?

A Europe that is economically robust, socially cohesive and politically united will reinforce the power of the Transatlantic Community. One of the core objectives of the Three Seas Initiative is to become a key contribution of Central and South-East Europe to the strengthening of the transatlantic link. An increased US economic presence in Central and South-East Europe would provide a catalyst for strengthened cooperation in the region and would bring added value to the EU-US strategic partnership. How can 3SI best contribute to transatlantic economic growth, security, solidarity and unity?

As an initiative driven by economic need and opportunity, the 3SI is a means to foster economic collaboration and connectivity with regions beyond Central and South-East Europe. What are the potentials of international collaboration in the 3SI infrastructure projects? What factors will international energy, telecom and transport, and investment firms use to assess the profitability and risks of 3SI projects? How can 3SI more effectively attract investment from beyond its participating countries?

The Bucharest 9 is a vehicle used to advance, through coordinated action, Central and South-East Europe’s security and defense interests and the role of the states of the region within NATO. Key B9 objectives include reinforcing NATO’s Eastern Flank, and the European Union’s security dimension. 3SI is a catalyst for the region’s economic development, through higher infrastructural interconnectivity. How can the two initiatives complement and reinforce each other, on their specific respective tracks, in order to reach their common goal of enhancing Central and South-East Europe´s security and prosperity, thereby strengthening both the EU and NATO?

Civil society organizations play an increasingly important role in fostering regional dialogue and cooperation. Their activities facilitate collaboration at the bilateral level and across regions, and even across Europe. Civil society has an enormous potential to add to the momentum, impact, and scope of the Three Seas Initiative. This session will highlight the synergies of 3SI with current international and regional efforts to promote sustainable development; explore how civil society can identify and leverage cross border complementarities to foster support for and increase the effectiveness of 3SI projects; and, discuss how civil society can help extend the integrative reach of 3SI beyond its current geographic scope. The topics addressed will be framed also from the perspective of the upcoming Romanian Presidency of the European Union Council (1st Semester 2019).