Bulgaria took over from Estonia the hosting of the Three Seas Initiative

At the virtual forum of the Three Seas Initiative held in Tallinn, the positions of the Heads of State of 12 European countries on the priorities of the initiative were presented: energy, transport and digital infrastructure. A team of the Bulgarian Chamber of Commerce and Industry participated in the forum.

The event hosted by Estonia covered topics related to international projects in the three priority areas in the Three Seas region - the Baltic, Mediterranean and the Black Seas.

The hosts shared their experience in building smart connectivity, with a number of examples of efficient use of infrastructure.

Estonian President Kersti Kaljulaid emphasized that in 2020 the initiative has become more practical and more visible. This is due to the established Investment Fund, which aims to support and finance projects of mutual interest, again in the fields of energy, transport and digital technologies.

The next country that will host the Three Seas Initiative in 2021 is Bulgaria. In Tallinn, Bulgarian President Rumen Radev took over from his Estonian counterpart Kersti Kaljulaid the hosting of the regional cooperation initiative. According to Radev, the countries can achieve an equal allocation of their resources if they create sustainable ties between the universities, scientific institutions and research units of young people in the whole region. Therefore one of the priorities when Bulgaria is host of the Initiative will be the development of educational and scientific connectivity. The goal is to find in the transport, energy and scientific areas smart decisions for the future, based on joint projects launched by research teams and the young people in the region. By pooling efforts and mobilizing our potential, our countries are capable of ensuring strong energy, transport and digital connectivity, the Bulgarian Head of State said.

President Radev announced that Bulgaria will continue to develop mechanisms for improving the decision making process within the Three Seas Initiative together with the other countries. “This is essential so that we can attract the still hesitating countries to the Investment Fund and also international financial institutions and representatives of the private sector,” President Radev said. He identified defining the criteria for the profitable projects and establishing clear criteria for allocating resources as the greatest challenges. The President called for more promptly moving from political talking to real actions that would benefit individual countries, their governments and businesses.

The initiative has strong transatlantic support from the United States. The forum was attended by U.S. Under Secretary of State for Economic Growth, Energy, and the Environment Keith Krach.

Google has announced that it will invest EUR 300 million to multiply the Estonian approach to digital integration of transport and energy in the 12 countries of the Initiative.

The Bulgarian Chamber of Commerce and Industry, as part of the CCI network within the Three Seas Initiative, will continue to provide information on current topics in the region.