Bulgaria and Latvia are developing excellent cooperation within the Three Seas Initiative. The joint efforts of participating countries make the Initiative an increasingly recognisable platform for cooperation, allowing it to partner with potential investors from around the globe, stated President Rumen Radev at a meeting today at the Presidency with the President of the Republic of Latvia, Egils Levits. The bilateral meeting is part of the Three Seas Initiative agenda starting today in Sofia.

This year’s Sixth Summit, hosted by President Rumen Radev, brings together heads of state, leaders of delegations and high-level representatives from the twelve participating countries and is accompanied by a large-scale business forum.

Key priorities for energy, transport and digital connectivity within the Initiative were discussed by the Presidents of Bulgaria and Latvia. Both shared the position that effectively using the funds provided by the Three Seas Initiative Investment Fund requires better coordination with the infrastructure projects, implemented with financing from national budgets and with the support of European funds. The understanding that openness and transparency in the work of the Investment Fund and the mechanisms and criteria for selecting projects to receive financial support lay at the foundation of acquiring the trust of businesses was also expressed during the meeting.

The Head of State pointed out the importance of partnership in technologies, science and education to achieve the goals in energy, transport and digitalisation connectivity and for creating a qualitatively different environment, promoting growth and creating favourable perspectives for professional development for young people in the region.