Three Seas Initiative plays important role in strengthening the region’s connectivity

On Tuesday, the ministers of foreign affairs of the Three Seas Initiative (TSI) countries met in a video-conference. Preparing for this year’s TSI Summit on October 19-20, the ministers discussed the ways to strengthen cooperation between the 12 Baltic, Adriatic and Black Sea countries in the TSI framework in order to facilitate the economic growth of the region, LETA was informed by the Foreign Ministry.

Latvian Foreign Minister Edgars Rinkevics underlined the key role of the TSI in reinforcing regional connectivity in the digital, energy and transport sectors. The minister said that to confirm that commitment, on May 7, the Latvian Government made a decision to contribute EUR 20 million to the TSI’s economic dimension – the TSI Investment Fund.

Rinkevics welcomed the United States’ involvement in the TSI and he expressed support for the Blue Dot Network principles related to the transparency and sustainability of investment, and responsibility in the implementation of international infrastructure projects that would bridge the gaps in the north-south connectivity between the EU’s regions. The TSI aims at enhancing the EU-level cohesion and transatlantic cooperation.

The impact of the Covid-19 pandemic on economy and finance has precipitated the need for cooperation and infrastructure development. The TSI Investment Fund provides a platform that enables the development of a strong backbone for regional economies through the implementation of strategically important infrastructure.

The TSI is presidential initiative of geopolitical importance launched in August 2016 by 12 EU Member States: Austria, Bulgaria, Croatia, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Slovakia and Slovenia. Germany, the European Commission and the United States also take part in the TSI Summits with partner status.

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