Special attention to Lithuania – April 11. The business forum of the Three Seas Initiative will be held in Vilnius

Lithuania chairs the Three Seas Initiative and in 2024 April 11 organizes the Summit of the leaders of the Three Seas Initiative and an integral part of the entire initiative – the International Business Forum in Vilnius. The aim of the initiative is to promote faster development and convergence of this region by increasing the connectivity of the participating countries in the fields of transport, energy and digitization, especially in the North and South axis, to strengthen cohesion in the EU and transatlantic links between the EU and the US. During the presidency, Lithuania will pay special attention to Ukraine and the strengthening of transatlantic relations.

On April 11 of this year, the business forum of the Three Seas Initiative (3Seas) will be held for the first time in Lithuania, inviting business companies and investors from 13 member states and the initiative’s strategic partners, associate members and interested countries. The business forum will be attended by high-level state officials. The one-day event will include business discussions on topics important to the entire region, including security, smooth energy and transport connectivity in the region. The most important projects transforming the region to which business can contribute will be presented, as well as B2B/B2G meetings.

The annual business forum will discuss the long-term goals of 3Seas, with a special focus on energy security and the creation of a climate-neutral economy, improving communications, strengthening transatlantic cooperation, and supporting the integration of associated EU states, especially Ukraine and Moldova.

The 3Seas business forum will also discuss financial instruments for regional development, support for Ukraine and its reconstruction, creation of digital infrastructure, strengthening of cyber security in the region and green (Net-zero) technologies.

“The Three Seas Initiative Business Forum is a unique format that brings together policy makers and business communities to discuss energy, transport, digitization and other issues relevant to the region. It is a great place to build new business relationships between the initiative’s business communities and partners in Europe, the USA and other countries, looking for innovative solutions together. The vision of Lithuania, as the country presiding over the Three Seas Initiative, is a strong Europe and a strong transatlantic connection,” says the President of the Republic of Lithuania, Gitanas Nausėda, about the business forum to be held in the capital.

The Three Seas Business Forum will discuss in more detail projects transforming the region, such as the RailBaltica project, which directly covers five countries of the European Union: Poland, Lithuania, Latvia, Estonia and Finland, as well as such multilateral road infrastructure projects as Via Baltica and Via Carpatia. As well as the integration and synchronization of the electricity system of the Baltic States with European networks and other important strategic renewable energy and connectivity projects in which business can participate.

“Lithuania is again in the spotlight. About 20 delegations will come to our country this time. We have a strong engineering industry and world-class innovative solutions in the field of lasers, and the information and communication technology sector accounts for 5.3% of Lithuania’s GDP. The innovation potential of the country is high, so we really have something to offer international partners and together we can create more opportunities for the overall growth of the region”, says Aušrinė Armonaitė, Minister of Economy and Innovation.

Romualda Stragienė, head of the Innovation Agency, which organizes the business forum, is happy that the Innovation Agency was entrusted with organizing an event of such scale and importance that will bring together business professionals and potential investors.

“This business forum is a great opportunity for Lithuanian businesses to expand their network of partners and find new contacts, which strengthens the export competences of companies and promotes the internationalization of Lithuanian companies. Participation in such events is one of the most effective means of business development, helping to find potential business partners, combine competences, share experience and create innovations. Established strategic partnerships with other countries provide an opportunity for Lithuanian businesses to be competitive in the global innovation system,” shares R. Stragienė.

According to the Head of the Innovation Agency, the Three Seas Business Forum is an extraordinary opportunity to attract international attention to Lithuania’s economic potential, business opportunities and investment environment.

“Lithuania is already bright in the field of information and communication technologies. We are famous for our quality and well-developed infrastructure, abundance of ambitious young talent and innovative technology companies. The main areas of this sector are the laser industry, financial technology, software engineering and cyber security, where we also have a unicorn. A large part of these services are exported to foreign countries, so the business forum can also become an excellent platform for businesses in this field to appear, find international partners and grow even more,” says R. Stragienė.

The Three Seas Initiative connects 13 European Union states: Austria, Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Slovakia and Slovenia and Greece, as well as 2 associate member states Ukraine and Moldova. The strategic partners of the initiative are the USA, Germany and the European Commission.

The aim of the initiative is to promote faster development and convergence of this region, increasing the connectivity of the participating countries in the fields of transport, energy and digitization, especially in the North and South axis, strengthening cohesion in the EU and transatlantic links between the EU and the US.