NEWS

Head of State: The True Value of the Three Seas Initiative Lies in the Level of Ambition for the Future of Our Region and Europe

The President addresses the participants in the business forum accompanying the regional initiative
 

The true value of the Three Seas Initiative lies in the level of ambition for the future of our region and Europe, for the development of trust, cooperation and friendship, and for strengthening our resilience and security, and stimulating business to be more effective in providing services to society. This was stated by the Head of State Rumen Radev within the presidential panel of a business forum accompanying the Three Seas Initiative Summit in Warsaw. This year, the format for developing cooperation and deepening connectivity along the North-South axis celebrates its tenth anniversary. Three Seas unites 13 EU member states: Bulgaria, Estonia, Latvia, Lithuania, Poland, the Czech Republic, Slovakia, Hungary, Slovenia, Austria, Croatia, Romania, and Greece. Strategic partners of the initiative are Germany, the European Commission, the USA and Japan, and associated participating countries are Ukraine and Moldova. The Bulgarian delegation led by the Head of State includes representatives of institutions and Bulgarian companies.

The dynamics of geopolitical processes have proven the importance and strategic potential of the Three Seas Initiative, the president said, recalling the series of crises the world has faced in recent years. All of them have revealed the need for better transport, energy and digital connectivity, as well as stronger regional cooperation - which are at the heart of the initiative, Rumen Radev pointed out.

In his address, the head of state outlined the path of the business forum, which since its establishment in 2017 has developed significant sustainability, a working organisation and management mechanisms. The investment fund, although insufficient in volume, has proven to be a working financial mechanism, President Radev pointed out. He recalled that within the framework of hosting the Three Seas Initiative in Sofia in 2021, the creation of an innovation fund was proposed and pointed to the need to overcome fragmentation and strengthen connectivity in science, research, education and innovation.

According to the President, the key to the development of the regional cooperation format is the long-term vision for investments and more active work with strategic partners and international financial institutions, which will make business more active. Rumen Radev also highlighted the importance of public-private partnership as a key to securing financing for the implementation of all ambitious projects aimed at expanding and improving connectivity in the region.