CIAO DATE: 08/01

Baltic Sea, America & Eurasia: Vision and Action for the 21st Century

Abstract

• Interdependence, both political and economic, between the different parts of the Baltic Sea region is growing. This means that there is a strong case for cooperative strategies rather than policies based on zero-sum thinking. The positive outcome of the Latvian referendum should be regarded as a crucial building element to promote this cooperation.
• A new approach to stimulate trade and cooperation should include more direct cooperation with the Russian regions. This will not lead to separatism but rather to a stronger Russia.
• Political leaders should strongly promote EU enlargement in all three Baltic states, as well as the deeper integration of Russia.
• Practical ways to minimize the negative effects to outsiders of the Schengen arrangements exist and should be promoted.
• Barriers to business growth should be removed with the aim of improving the climate for small-and medium-sized enterprise development, including tax and bankruptcy laws, shareholder rights, anti-monopoly legislation, registration and other administrative regulations.
• There is also a need for the facilitation of the flow of goods in and out of Russia, through development of efficient and safe cross-border transportation mechanisms; adaptation of international standard accounting and customs as well as functioning banks, insurance companies and other financial institutions are all needed to secure foreign investments and to host foreign firms.
• The non-military aspects of security, especially economics, are ever more important. The key to Baltic integration will be stability, developed trade and growing interdependence.
• Regional economic cooperation should be a key discussion issue. The Baltic Sea region today is a model for regional development both in Europe and the world. Despite the short-term troubles of the Russian financial system, the region can adjust to the changes and find appropriate solutions.
• The future of Europe is a "Europe of regions" and it concerns all countries. This notion is full of economic possibilities, although some see it as threatening the nation-state. It should be clearly demonstrated that this is a source of opportunity rather than risk.

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