Lithuania currently holds the chairmanship of the Three Seas Initiative (3SI) and is set to organize the Three Seas Summit on April 11, 2024, along with the International Business Forum in Vilnius, a crucial component of the initiative. The primary objective of the 3SI is to catalyze rapid development and convergence within the region by bolstering connectivity among member states in the realms of transport, energy, and digitalization, particularly along the North-South axis. This initiative also aims to fortify cohesion within the European Union while reinforcing transatlantic ties between the EU and the United States. During its presidency, Lithuania will prioritize strengthening relations with Ukraine and enhancing transatlantic cooperation.
An essential component of the Three Seas Initiative (3SI), the Business Forum, is set to take place on April 11, 2024.
“The Three Seas Initiative Business Forum is a unique platform that brings together policymakers and business communities to discuss energy, transport, digitalization, and other issues of regional significance. It serves as an ideal venue for forging new business links between the Initiative’s business communities and partners in Europe, the US, and beyond, as we work together to find innovative solutions. Lithuania’s vision as the Chair of the Three Seas Initiative is to strengthen Europe and cultivate a robust transatlantic relationship,” emphasizes Gitanas Nausėda, President of the Republic of Lithuania.
The upcoming 3SI Business Forum is poised to welcome representatives from 13 member states, strategic partners, associated members, businesses, and investors. This high-profile event will convene top government officials alongside industry leaders for a day of engaging discussions centered around topics critical to the region’s advancement, including safety, energy efficiency, and seamless transportation connectivity. Notably, the forum will showcase transformative projects open for business participation, facilitating B2B and B2G meetings aimed at driving collaboration and investment.
Among the projects set to transform the region, the Rail Baltic initiative stands out, with multiple EU member states directly involved. Additionally, multilateral infrastructure projects like Via Baltica and Via Carpatia will take center stage, along with efforts to integrate and synchronize the Baltic electricity system with European networks. The forum will serve as a platform for businesses to engage in strategic renewable energy and interconnectivity projects, further enhancing regional development.
Lithuania’s Minister of Economy and Innovation, Aušrinė Armonaitė, expresses optimism about the forum’s potential to spotlight Lithuania’s vibrant economy and innovation ecosystem. With a robust engineering industry and cutting-edge technology solutions, Lithuania presents an attractive proposition for international partners seeking collaborative opportunities.
Head of the Innovation Agency, Romualda Stragienė, echoes this sentiment, emphasizing the forum’s role in expanding networks, promoting export competencies, and fostering internationalism among Lithuanian businesses. Recognizing Lithuania’s prowess in information and communication technologies, Stragienė underscores the country’s strengths in laser technology, financial innovation, software engineering, and cybersecurity.
The Three Seas Initiative brings together 13 EU member states, along with associated states Ukraine and Moldova, and strategic partners including the US, Germany, and the European Commission. With a shared vision of regional advancement, the 3SI aims to accelerate development and strengthen connectivity to bolster the EU’s cohesion and transatlantic partnerships.
As Lithuania prepares to host the 3SI Business Forum, the spotlight shines on Vilnius as a hub for regional cooperation and economic growth. With an array of transformative projects on the agenda and a commitment to fostering innovation and collaboration, the forum promises to chart a course toward a more prosperous and interconnected future for the Three Seas region.
