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3 Seas Initiative annual summit begins

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3 Seas Initiative annual summit begins

3 Seas Initiative summit
3 Seas Initiative summit
The 3 Seas Initiative summit begins today – Photo: Atlantic Council

The 3 Seas Initiative (3SI), an annual summit bringing together twelve countries including Poland and Hungary, will take place in Latvia today.

Alongside the meeting of political leaders, the summit will see a gathering of over 500 stakeholders to discuss the region’s economic development.  During the 2021 summit, member states declared their readiness to collaborate with other global actors with whom they share the same democratic values. Since then, the US has pledged to contribute $1 billion.

The summit comes after a meeting between Lithuanian deputy transport minister Julius Skackauskas and Polish transport minister Andrzej Adamczyk, where they discussed the possibility of a transport corridor to connect the Baltic, Black and Aegean seas. This corridor would also assist Ukrainian exports, speeding up their freight transport process. Latvian President Egils Levits has emphasized the importance of helping Ukraine and has underlined that 3SI countries account for the biggest share of support to the country since Russia’s invasion.

Expect the summit’s members to request further external contributions in an effort to help their economies catch up with the rest of the EU. Furthermore, expect the transport corridor idea to be pushed forward, and for more resources to be dedicated to Ukraine.

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