Three Seas project development serves entire EU - president

Three Seas project development serves entire EU - president Adam Warżawa/PAP

Polish President Andrzej Duda said that the development of the Three Seas project and cooperation within the initiative serve the entire EU. He made the statement while opening the Three Seas Stock Exchanges Conference in Krakow, southern Poland, on Monday.

The Three Seas initiative is a joint project of the Polish and Croatian presidents that brings together twelve countries situated between the Adriatic, Baltic and Black Seas.

The president stated that though the conference was focused on cooperation of capital markets, it could be said that it concerned a single large capital market "of this part of Europe, namely of the Three Seas."

"This is one-third of the EU territory and one-fourth of the EU population. This is only 10 percent of the capital, which is still too little, but, at the same time, it is a great prospect," he said.

The president recalled that the Three Seas region was among the priorities of his first term of office, and underlined the chances being given to the young generation in Central and Eastern Europe.

"It is our huge task today to create the best possible base for them to act," he said, adding that "Poland is today facing an opportunity - the greatest since the 17th century," and that it was "our task to make use of it."

"I hope that we will cooperate with each other to build the prosperity of our countries, of our nations, of our part of Europe, and, in effect, of the whole European Union," President Duda stated.

He said he had no doubts that the development of the Three Seas project, which was designed to accelerate the development of Central and Eastern Europe, served the entire EU and the entire community.

President Duda recalled that it had been economic issues, and not politics, which were the foundation of the Three Seas project. He explained that he had in mind investments since they had been insufficient in that part of Europe, in the North-South dimension.

The president added that the idea was to build highways and expressways, railway lines and good energy links, which could guarantee security. "In order to make it possible for us to develop cooperation in the economy, trade and tourism as well as among people," he stated.

The official praised the role of business in the development of the region and appealed to politicians to stimulate it. Having recalled joint initiatives, like the CEE Three Seas index, the Three Seas Initiative Fund, the Forum of Regions or the Economic Forum, President Duda also underlined the role of the capital market.

"I am glad that this cooperation is being established since this will add content to the Three Seas initiative," he concluded.