Objectives
The interconnectedness is impossible without cross-border engagement and international cooperation – establishing and enhancing secure long-term and mutually beneficial cooperation. The Three Seas Initiative is more than a forum – it is a vision and a model for cooperation that enables create a strong backbone for modern cross-sectoral infrastructure, thus fostering cooperation of the region’s societies in wide range of fields.
ˮTogether we are stronger”
1. Defining the relationship with a geopolitically reconfigured neighbourhood under the impact of the illegal and brutal war of aggression of the Russian Federation against Ukraine.
In the geopolitical upheaval Russia’s invasion in Ukraine generated, the Three Seas Initiative reconfirmed the validity of its concept and the urgency of implementing its objectives. In the light of the recent geopolitical challenges and the resulting global turmoil, the significance and core purposes of the Three Seas Initiative, which prompted its creation, are now more relevant than ever.
Thus, the Initiative’s primary objective remains not only to promote the economic development of the region through increased interconnection, but also the European Union’s cohesion and to reinforce the transatlantic bond. In the new geopolitical context, the Initiative must also recalibrate its strategies and partnerships taking into account the European neighbourhood’s geopolitical restructuring.
2. Advance the process of 3SI enlargement with the countries that manifested interest for the Initiative’s activities and meet the criteria.
Among the expected results of the Bucharest Summit, the following are envisaged after the discussions among the 3SI participating states and with the strategic partners: the Hellenic Republic will join the Initiative, thus becoming the 13th participating state of the Initiative; Ukraine and the Republic of Moldova will be granted the new status of ’associated participating states’ to the 3SI. In addition, the 3SI’s potential to complement the EU policies in bringing the Western Balkans, Ukraine, the Republic of Moldova, and Georgia closer to the EU will be recognized, including by involving these countries in the implementation of the 3SI regional infrastructure projects.
3. Built up on the increasing interest shown by different like-minded actors for the 3SI activities by inviting to the proceedings of the Summit high level representatives from Japan, United Kingdom, France, but also from relevant international organizations such as IMF, EBRD, EIB, OECD.
Identify together, on this occasion, practical modalities to step up their cooperation with the Initiative, including through possible concrete contributions to the 3SI projects.
4. Continue developing critical infrastructure projects on the North-South axis in transport, energy and digital networks.
This new edition of the 3SI Summit represents a decisive step for reconfirming the Three Seas Initiative as an efficient and mature political platform for facilitating strategic infrastructure interconnection projects and investments in the region on the North-South axis, thus realizing the 3SI’s goals of developing the economies of participating states, promoting the convergence with the rest of the EU and the transatlantic partnership. The leaders will endorse a renewed list of major interconnection projects, added to the first generation of the 3SI strategic projects. The primary goal focuses on developing the infrastructure in Central and Eastern Europe in the three pillar fields of the Initiative: transport, energy and digital.
5. Exploring the possibilities to develop new instruments of the Initiative, such as the Innovation Fund.
The goal is to strengthen the Initiative and endow it with the most efficient tools for increasing its capacity to deliver positive outcomes. The leaders will acknowledge the intention to launch a 3SI Innovation Fund, adding to the already existing instruments – the Business Forum, the Investment Fund, the priority projects list. The Innovation Fund could become a flexible tool, complementary to the Investment Fund, with a focus on new edge advanced technologies (purpose driven innovation). These efforts will help close the development gap between Eastern and Western Europe, enhance the EU’s cohesion and consolidate the transatlantic partnership.
6. Attracting private investments and developing public-private partnerships. The success formula of the 3SI consists in being a politically driven platform, but fully economically functional and operational. The current reality of challenges and disruptions in our region call for continuing the efforts to attract much needed private investment and support from the international financial institutions on the proper scale required by the disparity in infrastructure development between the countries of the Three Seas region and the rest of the continent. To this end, after leaders’ discussions on the first day of the Summit, a new edition (the 5th) of the Three Seas Initiative Business Forum will take place on September 7, with a strong presence of potential contributors from international development and financial institutions, like-minded partners, guest participants, private and public institutions.
7. Strengthening the region’s cyber resilience and cybersecurity by supporting the developing of the strategic infrastructure interconnections and digital networks and services amongst the 3SI participating states.