During the discussion organised within the framework of the summit of the Three Seas Initiative by the largest entrepreneurs’ association of Latvia — the Latvian Chamber of Commerce and Industry (LCCI) in cooperation with Rietumu Bank, representatives of chambers of commerce and industry of countries of the region discussed the matters of the ongoing war in Ukraine and the availability of energy resources, which are the key challenges of the European economy, as well as independence from Russian resources and the necessity to promote mutual co-operation.
On 20th June, within the summit of the Three Seas Initiative, the discussion “Regional security via transport, energy and infrastructure: the role of chambers in it” between representatives of regional chambers of commerce and industry took place, mainly focusing on the availability of energy resources and raw production materials, the impact of war in Ukraine on the economy, infrastructural solutions, promoting independence from Russia and co-operation for strengthening of the European economy.
The Chief Executive Officer of Eurochambres Ben Butters emphasised: “The key word is cooperation. In the field of transport, energy, infrastructure. None of the current problems can be solved at the national level by isolating oneself from other countries. European cooperation is crucial.” Moreover, cooperation must take place not only between countries, but within a country itself — between the government and businesses.
Problems of prices and availability of energy resources in Europe are currently at the top of the list. Already last autumn, European entrepreneurs started worrying about the rapid increase of prices for energy resources. After the start of the war in Ukraine, it became clear that their availability will be a challenge. It is also important that the objectives and solutions of green energy are realistic and attainable. Participants of the discussion agreed that the matter of energy now is a priority, and we need quick and well-considered solutions.
Representatives of chambers of commerce and industry of the Three Seas Initiative region have also discussed matters of increasing the impact of chambers and promoting dialogue with national governments and entrepreneurs as well as topics of various aid instruments for European businesses.
Maxim Rizhikov, Head of Treasury and Financial markets division of Rietumu Bank, have participated in the discussion.
On June 20, right before Three Seas Summit and Business Forum, Latvian Chamber of Commerce and Industry in cooperation with Rietumu Bank organizes a discussion of Chambers of Commerce and Industry focusing on political, economic and social arrangements.