(Part 5)

On 5 November 2016, the fifth Summit of China and Central and Eastern European Countries was held in Riga Latvia. The discussions during the meeting focused on the future development of the project, future regional and international policies, and the ongoing success and progress of cooperation.

The project for the development of port infrastructure in the Adriatic, Baltic and Black Seas has been widely explored, and as a result to boost the economies of CEEC and China to the region and in Europe as whole. The idea of developing synergy between the various initiatives such as “16 + 1”, “Belt and Road” and the European “TEN-T” continues.

The Riga Declaration has been signed, which highlights a number of guidelines for future actions with a strong prioritization of maritime transport:

  1. Actions to deepen cooperation between ports in the Adriatic, Baltic and Black Seas on developing and improving conditions and infrastructure.
  2. Creating an appropriate environment for investments in projects and industries related to maritime transport.
  3. Cooperation in the construction of industrial parks near the ports.
  4. Confirming the desire to create an appropriate Eco-friendly environment for cooperation in all investment projects.
  5. Promote close cooperation in the financing, improvement and creation of new financial mechanisms to finance infrastructure projects.
  6. Declaration of consensus with all bilateral and multilateral treaties, consents and mechanisms, strengthening of partnerships between governments, creation of new mechanisms, creation of communication platforms to create favorable conditions for the establishment of the Adriatic-Baltic-Black Sea Seaport Cooperation.
  7. Encourage other European countries and European businesses to take part in creating inter-territorial cooperation and involving the private sector in the initiative by promoting transparency in their actions.

Among the important decisions made in Riga are the creation of a 16 + 1 Secretariat on Maritime Issues in Poland, the signing of a financing agreement and the construction of a high-speed railway Belgrade-Budapest and the establishment of a financial institution (Sino-CEEC Financial Holding Company Limited) focuses on projects that emphasize connectivity.