Pompeo: Three Seas Initiative will help maintain bond between US and Central Europe

The US Secretary of State believes that through cooperation with the United States, the Three Seas can ensure economic security for itself for generations

editor: REMIX NEWS
author: Niezalezna/PAP

At the Three Seas summit in Tallinn, US Secretary of State Mike Pompeo focused on highlighting the role of European-US cooperation in maintaining the West’s security, as well as outlining the future development of the Three Seas initiative with the US’s assistance.

Pompeo underlined the importance of European nations and the United States working together to preserve the Western way of life for the last 75 years. He added that this work is being maintained under President Donald Trump.

He listed his latest visits to Central European countries such as Czechia, Slovenia, Austria, Poland, and Croatia, as well as Western Europe as part of this ongoing cooperation.

“I am with you here today, just like President Trump was three years ago because we can continue to win thanks to the Three Seas Initiative,” he declared.

Pompeo praised the Three Seas and explained that by cooperating with the US, there is an opportunity to attract private sector investments which would raise the standard of living in the region. He said that there is also a chance to connect the infrastructure and energy market of the countries involved to ensure economic security for generations.

“We have the opportunity to make it so that European countries will remain strong, free and bonded with the USA — which my country wants,” the head of US diplomacy stated.

Pompeo emphasized the importance of the Three Seas compared to five or ten years ago and underlined that the US does not want authoritarian powers to once again undermine the sovereignty of free states.

He also noted that the US had already manifested its determination in the Three Seas in February 2020 in Munich when he announced that the US will invest up to $1 billion in the initiative.

“This announcement helped encourage further investments and awaken enthusiasm,” he said.

In the context of financing the Three Seas initiative’s infrastructure projects, the secretary of state said that the US eagerly awaits every member of the initiative to invest. He praised the creation of the Three Seas Fund, as well as the necessary legal, financial and analytical tools which will facilitate investments.

Pompeo pointed out that while government investments in the fund are helpful, they could not match the power of the private sector.

“You must develop the fund by attracting private capital and investments. It is essential that national policies be as attractive as possible and not favor state-owned companies. They should not hinder investments due to political reasons,” he urged.

On Monday, the 5th Three Seas summit was held in Tallinn. Due to the coronavirus pandemic, the summit was partially conducted via videoconference.


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