Our second objective is to help the new market economies of the Baltic Rim to prosper, and to become good candidates for membership in such key institutions as the WTO and the European Union. We all recognize the significant market potential of the region with over 51 million consumers. These new market economies are already some of the world's fastest growing. Moreover, the region functions as a gateway to the wider mainland markets around Warsaw and Moscow, thus significantly increasing the size of the accessible market. In other words, there are many sound business deals to be made.
Similar funds operate in Poland and Russia.
My government strongly supports accession of the Baltic states to the World Trade Organization. In the end, it is private investors and corporations which will make the decisive difference in integrating economically the Baltic region. However, the Baltic states and Russia need to do more to create the stability and predictability that business investment requires. This includes a sound and transparent legal infrastructure, in which the laws are consistently and fairly applied. Border crossing and customs procedures need to be established, and corruption must be rooted out.