Ekaterina Zaharieva: “Through the Three Seas Initiative we must present the region as a good place for investment”
18 February 2021 News
The opportunities of the Three Seas Initiative and the Bulgarian Presidency this year should be used to present the region as a good place to invest and recover from the crisis. This was stated by Deputy Prime Minister and Minister of Foreign Affairs Ekaterina Zaharieva, who is also the national coordinator of the initiative, during the online forum “Three Seas Initiative 2021: The Road to Sofia", organized by the US Atlantic Council.
"Political declarations are not enough, daily work of governments and the private sector is required" - she said - It is up to us to accelerate the implementation of projects, to attract new investments in the region, to facilitate business contacts and connectivity between citizens", added Ekaterina Zaharieva, who was a special guest speaker at the event.
Our Foreign Minister called for more active interaction between the public sector and business as a guarantee for achieving the goals of the initiative, which involves 12 EU member states, supported by the United States, Germany and the European Commission.
"I am convinced that this year is the time to implement the decisions within the framework of the Three Seas Initiative", Zaharieva added.
She stressed the strong support for the initiative by US Secretary of State Anthony Blinken, expressed in a special video address during a meeting of foreign ministers and national coordinators last week. Our Foreign Minister welcomed the commitment made by the United States to support the Three Seas Investment Fund with USD 1 billion for energy projects, as well as the decision of the United States International Development Finance Corporation (IDFC) to make a first instalment of 300 million US dollars. She emphasized that it was crucial for member states and EU partners, Germany and the United States to work together to further expand the Fund with both public and private capital, and to reach the 5-billion-euro target.
"Building trust throughout the region as an attractive investment market with a population of over 110 million people needs a targeted communication strategy, including not only politicians but also business communities, NGOs, media. "We are confident that the Atlantic Council will continue to support us in this endeavour, spreading the good news of the Three Seas Initiative to American investors", Zaharieva said.
Our Foreign Minister presented the priorities of Bulgaria in the year of its presidency, among which are energy security and diversification of energy sources and their supply routes, as well as increasing transport and digital connectivity between the countries. She stressed that one of the goals of our country is to build better regional connectivity, including in technology and innovation, building on the achievements of last year's Estonian presidency. "High-tech developments in digitalization, energy efficiency and the green economy create new opportunities for an intelligent network between university research and innovation centres, offering chances to our young innovators and IT professionals to stay working in the region", said the Bulgarian Deputy Prime Minister.
Among the participants in the forum were General James Jones, Executive Director of the Three Seas Program at the Atlantic Council, Deputy Chairman of the Program Ambassador Georgette Mosbacher, Matthew Boyce, US Deputy Assistant Secretary of State, political experts and investors from both sides of the Atlantic.
The Atlantic Council of the United States is a non-governmental organization that promotes constructive leadership and engagement in international relations based on the central role of the Atlantic community in addressing global challenges.
The Three Seas initiative is a political project at the level of heads of state of 12 EU Member States from Central and Southern Europe: Austria, Bulgaria, Estonia, Latvia, Lithuania, Poland, Romania, Slovakia, Slovenia, Hungary, Croatia and the Czech Republic. The initiative has already built a strategic partnership with Germany and the United States.
The aim of the Three Seas initiative is to promote cooperation between the countries of the North-South axis, and its main focus is the development of trade and economic cooperation, deepening the integration of the countries of the region between the Baltic, Adriatic and Black Seas and enhanced connection between them in the field of energy, transport, communications, information technology, business.
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