The Three Seas Initiative is a political platform that brings together 12 EU member states in Central and Eastern Europe between the Baltic, Black and Adriatic Seas. At this year’s Three Seas summit in the Romanian capital, Bucharest, Greece will become the 13th member of the initiative alongside Austria, Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Slovakia and Slovenia.
As strategic partners that support the Three Seas Initiative, the European Commission, Germany, the United States and representatives of a number of relevant international organizations will also attend the two-day summit.
What are the initiative’s priorities?
The Three Seas Initiative is first and foremost a political project that seeks to foster economic cooperation between its members and boost their economic development. Apart from Austria, all current members of the initiative joined the European Union after 2004.
The initiative’s top focus is on the development of members’ energy, transport and digital infrastructure and the strengthening of the north-south axis in eastern Europe.
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Why was the Three Seas Initiative set up?
One of the reasons for the establishment of this initiative was the growing threat from Russia and the dependence of member states on Russian energy imports. In addition, the initiative’s members wanted to give greater weight to their political interests within the EU. Although the countries of the Three Seas Initiative make up about 25% of both the surface area and population of the EU, they account for only just over 10% of its gross national product.
Russia’s war in Ukraine has shifted the initiative’s economic policy priorities, with security now a major focus. In response to Russia’s aggression, Ukraine and the Republic of Moldova — neither of which are members of the EU — have expressed an interest in joining the initiative. It is expected that both countries will be offered a solid partnership at the Bucharest summit.
Continue here: DW
