Debate: The Three Seas Initiative: challenges and opportunities
Date: WEDNESDAY, 6 JULY 2022
Speaker: Kadri Simson
Language: EN

It has exacerbated the existing trends of a tightening of energy and food markets, triggering increased price volatility and energy insecurity across the globe. Contrary to Russia’s disinformation, it is Russia’s invasion in Ukraine that has caused these impacts, not the sanctions of the EU on Russia.  The current situation requires that we work together even closer, including with our strategic allies. The Three Seas Initiative is well aligned with the EU’s energy objective, and this political and economic cooperation can very usefully complement and give a substantial additional boost to the implementation of the REPowerEU plan.  In fact, REPowerEU is our response to the global energy market disruption caused by Russia’s invasion of Ukraine. Its key elements are to save fossil energy, replace it with renewables and diversify away from Russian fossil fuels. Close cooperation is particularly important for countries that are most exposed to Russian threats.  The organisation of energy infrastructure is key for European energy security, and in the Three Seas region the EU has provided strong support for energy, transport and digital infrastructure through its cohesion and infrastructure funds. We will continue to do so in the years to come, especially in order to support investments that contribute to a cleaner, more resilient and more digital future.  The war in Ukraine has also highlighted that, in the area of transport, there is a need to urgently provide better cross-border connectivity with our neighbours in the east. The Commission remains fully committed to this and is proactively working on finding solutions to bridge the connectivity gap.  Concerning the region covered by the Three Seas Initiative, you will be aware that it is an integral part of the core network of the Trans-European Transport Network, and more than half of the EUR 22.4 billion budget of the CEF 1 under the previous financial programming period has been invested in this region. Under the new MFF, the CEF 2 has already made additional EU co-funding available with a view to completing the core network by 2030.  As a regional cooperation platform, the Three Seas Initiative can certainly support the Union in our ambitions of realising the TEN-T, creating a ‘first of its kind’ a genuinely dense European network out of what was essentially a patchwork.  To this end, however, it is important that we continue to discuss how we can work together in shaping common objectives. Connectivity is also a key enabler for the digital transformation. Reaching the 2030 gigabit and 5G targets at the end of the digital decade is essential for sustainable digital economic growth.  Any digital project, and in particular investment in digital infrastructure, should be developed applying appropriate cybersecurity measures. This MFF is an opportunity to ensure that the countries of the Three Seas Initiative are on track to fulfil these objectives. The Commission expects Member States to invest in forward-looking, state of the art, fibre and 5G infrastructures that underpin a competitive and green economy.  We are pleased to see that Member States plan to devote more than 26% of their RRF funds to connectivity, and we will also support investments in connectivity with another EUR 2 billion from the CEF Digital Programme. The latter will target in particular backbone networks, as well as the cross—border segments of 5G corridors and 5G communities.  We are equally pleased to see regional endeavours such as the Three Seas Initiative with its corresponding fund, part of which is dedicated to digital capacities and infrastructures. Given that the fund intervenes in areas which are also supported by EU initiatives such as the RRF and CEF Digital, it is important to reflect on the possible synergies between the different sources of funding. A new call will be launched for CEF Digital later this year, and there will be more opportunities to finance investments in digital infrastructure.  On a personal note, I myself participated two weeks ago at the Three Seas summit that took place in Riga, so I thank you very much for this agenda point and I’m looking forward to an interesting debate.