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Three Seas Initiative summit kicks off in Romania’s capital

The summit participants are expected to approve a list of about 40 priority economic projects

BUCHAREST, September 17. /TASS/. A two-day summit of the Three Seas Initiative - an unformal association of 12 countries located in the area between the Baltic, Black and Adriatic Seas - kicks off in Bucharest on Monday. It is the third meeting between representatives for Austria, Bulgaria, Hungary, Latvia, Lithuania, Poland, Romania, Slovakia, Slovenia, Croatia, the Czech Republic and Estonia in this format. The first Three Seas Initiative summit was held in Dubrovnik in 2016 and the second one in Warsaw in 2017.

The Romanian presidential administration said that nine presidents, two parliamentary speakers, one prime minister and one foreign minister stated their participation in the upcoming meeting. The guests that will arrive to Bucharest include President of the European Commission Jean-Claude Juncker, US Secretary of Energy Rick Perry, German Minister of Foreign Affairs Heiko Maas, President of European Bank for Reconstruction and Development Suma Chakrabarti and President of the European Investment Bank Werner Hoyer.

The Romanian presidential administration said that the goal of the Three Seas Initiative association is "the economic development of the Central and Eastern Europe countries, through increasing interconnectivity, especially on the North -South Axis but not only, in three main fields - transport, energy, digital - and boosting competitiveness of the participant states’ economies." The states are striving "to increase real convergence among EU Member States" and "contribute to the strengthening of the transatlantic relation, through fostering the USA’s economic presence in the region," the administration said.

The summit participants are expected to approve a list of about 40 priority economic projects, initiate the creation of a network of the Chambers of Commerce in the participating states, start procedures to establish the association’s investment fund of 100 bln euros and open an official web site. The meeting will also include a business forum, which will be attended by representatives for the Three Seas Initiative states, other EU states, the Western Balkans, the US, Moldova, Ukraine, Georgia, as well as representatives for the European Commission and European and international financial organizations and experts.

On Monday, Romanian President Klaus Iohannis will open the business forum and attend its plenary session along with Croatian President Kolinda Grabar-Kitarovic , Polish President Andrzej Duda and Austrian President Alexander Van der Bellen. One more plenary session will be held on Tuesday, at which Juncker will deliver a speech.