For the first time since the regained independence of Latvia, about
3000 leading European financiers, bankers, entrepreneurs and government representatives
from about 60 countries will visit Riga on the occasion of the EBRD Board of Governors’
Annual Meeting. Both Latvia and its neighbouring countries have experienced significant
changes during these almost ten years of independence. That is why the Supervisory
Committee for the organisation of the EBRD Annual Meeting together with Birojs 2000
decided to organise the Baltic Business Conference. The goal of the conference will be to
assess the role and significance of the Baltic States and other Baltic Sea region
countries in the context of global economic developments, to emphasise the importance of
regional cooperation and to discuss ongoing and prospective investment projects.
The Advisory Board of the Conference, which is headed by Uldis Osis,
Chairman of the Energy Expert Council at the LR Ministry of Economy, was created in order
to develop a detailed program of the conference, as well as to evaluate the most important
current issues.
What is the main mission of the Baltic Business Conference?
Uldis Osis:
This is Latvia’s initiative – to link the EBRD Annual Meeting with
the Baltic Business Conference. It was taken into consideration that a large number of
important persons from all over the world would attend the EBRD Annual Meeting – both
the business community and politicians. We can use this occasion to open an opportunity to
provide a deeper study of the subject and to tell more about the three Baltic States.
Firstly, this conference could promote new and successful contacts
among the Baltic States themselves. We have often heard an opinion that there is no real
cooperation between Latvia, Lithuania and Estonia. Foreign investors perceive the Baltic
States as one friendly family, but as it turns out - these are very diverse countries with
competing rather than co-operating economies. Therefore, in order to understand each other
better, it is important to involve representatives from other Baltic countries in the
plenary sessions of the conference as well as presentations of projects or sector
discussions.
What are the underlying principles of the programme of the
conference? How are you planning the procedure of the conference?
Pauls Puke, Project Manager, Birojs 2000
The main principles which could be taken into consideration at devising
the programme of the conference are the following: the impact of the economic
globalisation, the accelerated development of the North Eastern region of Europe, the
growing competitiveness of the European continent in the world market and the role of the
Common Market of the European Union, the integrated economic strategy of the Baltic
states, and the regional cooperation with other countries of the Baltic Sea region,
especially as concerns joint business projects.
The conference will be organised in the form of round table
discussions, meetings of working sections and presentations of investment projects. The
meetings of the working sections could address the policies of the respective sectors, the
current and future strategies in the regional and global context, as well as ongoing and
prospective projects of the Baltic Sea region, whereas during the presentation of
investment projects detailed project presentations could be provided by each of the Baltic
State.
In order to ensure efficient preparation process of the programme, we
have decided to create special groups, which will be engaged in the preparation of the
plenary sessions, working sections and investment projects.
We have scheduled to discuss the following industries during the
conference: telecommunications, energy, transport and logistics, manufacturing and
finances.
Uldis Osis:
We have selected industries, which bear significance and are priority
issues for other Baltic States as well, also - the industries where the EBRD and the World
Bank have their projects.
Pauls Puke:
The group for the preparation of the investment projects has already
launched work and will provide a significant contribution in the evaluation of the
projects. By 20 December the process of the application and the project assessment is
taking place in all three Baltic States. Private projects will be coordinated by the
development and investment agencies of the Baltic States, whereas national projects are
the competence of the ministries of Economy in Latvia and Lithuania, and the Ministry of
Finance - in Estonia.
What is the role of the Advisory Board in this project?
Uldis Osis:
The Advisory Board of the Baltic Business Conference was created with
an aim to synthesise and formulate interests that matter and are topical for Latvia and
its neighbouring countries. The Advisory Board will consider the possible structure of the
conference and its basic principles from different angles – financial, political and
business perspective. Influential Latvian officials are involved in the work of the
Advisory Board; we have also planned to invite representatives from Lithuania and Estonia.
In my opinion, the main objective of the Advisory Board is to integrate
and concentrate all possible ideas and proposals as well to apply them in practice, in
order to achieve that the Baltic Business Conference makes a high level representational
event.
Extensive joint projects are currently under way in Latvia and
other Baltic States, for example – in the sectors of energy and telecommunications. How
could they be addressed in this conference and how could Latvia benefit from this event?
Pauls Puke:
One of the objectives of the Baltic Business Conference is to promote
the cooperation of the Baltic states, another – to review and assess the joint projects
of the Baltic Sea countries where Latvia can be involved. The European Union and other
developed countries are paying more and more attention to the Baltic Sea region, and the
conference will be another opportunity to emphasise the importance of the Baltic States in
the joint projects.
Uldis Osis:
In my opinion, all three Baltic States are not yet completely through
the infantile diseases, as both the states and their enterprises have gained independence
and want to act on their own. That is what makes the business philosophy of the Baltic
States different from that of the economically developed world, where competition manages
to live in accord with integration and merger.
Competitors realise that they will gain more by uniting than by
fighting, hence of constant changes in the market structure and growing consolidation of
capital. These developments are due to the expansion and liberalisation of the world
market, where the players need to be strong. In this country everyone adheres to his/her
own opinion for the time being. If we study newspapers we see that that groupings of
Latvian enterprises are fighting a battle, disregarding all.
Very often these fights are on the level of ambitions, therefore, of
course, we cannot hope that we will manage to conciliate entrepreneurs, however, this can
be a step towards reconciliation.
Situation on the Baltic level is very much alike, for example – the
disagreement between Latvia and Lithuania in the area of oil transit.
How strong is Latvia’s position in the joint projects and how
could it be improved?
Uldis Osis:
Situations differ in each particular case. Talking about the BALTREL,
the united energy market around the Baltic Sea, which is already integrated in the
European market, the situation to a great extent depends on the decisions of the Latvian
Government, including the decisions on restructuring and privatisation of Latvenergo.
I believe that the creation of a united Baltic energy market could be
one of the projects discussed during the Baltic Business Conference.
It should be noted that the Nordic Dimension, which is also an
important project for the Baltic States, is established at the right moment. After the
collapse of the Russian market and the dramatic fall of the transit from Russia through
all the Baltic States, the Nordic Dimension offers us a kind of alternative.
