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Minister Aurescu talks about strengthening Three Seas Initiative at meeting preparing summit in Estonia

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Minister of Foreign Affairs Bogdan Aurescu participated on Tuesday, by video conferencing system, in the opening of the preparatory meeting (Sherpa format) of the 5th Summit of the Three Seas Initiative (3SI), which will be hosted by Estonia in October.

Bogdan Aurescu stressed that "including in the context of the current global situation, marked by the pandemic with the new coronavirus, and the related economic challenges, the Three Seas Initiative (3SI) is a platform that can bring consistent added value on major connectivity projects by also strengthening cooperation between business communities." It can also be an important support factor for the recovery of the participating states' economies, affected by the pandemic, he pointed out, according to a press release of the Ministry of Foreign Affairs (MAE).

Thus, the head of diplomacy expressed the hope that "the Tallinn Summit will contribute to the consolidation of the Initiative, including by continuing to implement the decisions of previous summits, including the Bucharest Summit, successfully hosted by President Klaus Iohannis in September 2018 ".

He gave assurances that our country will remain actively involved in cooperation in the 3SI format, so as to fully exploit its potential, while the Romanian authorities at all levels, including the President of Romania and the Government, will work together to implement the projects and objectives of the Initiative, including within an inter-institutional work group.

At the same time, Aurescu also referred to the importance of strengthening the strategic partnership between the European Union and the United States of America, essential for the security and prosperity of the two shores of the Atlantic, the 3SI being a concrete tool for deepening cooperation in this regard.

The head of Romanian diplomacy expressed Romania's openness to continue to provide support for the success and good organization of the 3SI Business Forum, which will take place on the sidelines of the Summit, and stressed the importance that the network of the Chambers of Commerce of the States participating in the 3SI, created on the occasion of the first Business Forum in Bucharest, develop and continue to play a relevant role, including at the Tallinn Business Forum. He pointed out that, given the development potential that the forum could boost in neighboring regions, it is important to attract government and business partners from the Western Balkans, the Republic of Moldova, Ukraine, Georgia and Turkey.

Minister Bogdan Aurescu also welcomed the operationalization of the Investment Fund of the Three Seas Initiative, which saw the participation of the Polish Development Bank and EximBank of Romania, as well as the decision of Estonia, Hungary and Latvia to join the Fund. He voiced his hope that other development banks in the region will join the Fund so that it become a financial instrument with a considerable regional impact, which could also be an important outcome for the Tallinn Summit, concrete proof that the 3SI has the ability to contribute to the economic development of the region.

Minister Aurescu also stressed that the participation in the Fund of other international financial institutions, such as the European Investment Bank, the European Bank for Reconstruction and Development or the World Bank, together with private investors, would be welcome.

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