Black Sea Investment Forum 2019: on the way to expand investment environment and new funding sources within TRACECA region

Black Sea Investment Forum has been the Black Sea / Constanta Naval event, held on 22-23 May, 2019 in order to support the efforts already made to promote cooperation between the countries in the area in the context of a Black Sea Common Sea Agenda under high-level presence of the Government of Romania within the Presidency of Romania in the Council of the European Union.  

The Forum aimed at supporting and stimulating investment, improving the EU’s global business environment by removing barriers to investment and promoting sustainable funding. 

Transport and digital connectivity of the Black Sea region, smart connectivity/sustainable multi-modal transport, environment protection/circular economy approach as an opportunity for innovation were among the topics of crucial importance for discussion.

The Forum opened an in-depth debate on the huge potential arising from the neighboring countries to Black Sea region as well as the structuring role of the regional initiatives to promote effective transport connectivity between Europe, the Caucasus and Asia.

Within the agenda of the Forum, the Conference was marked by important messages made by representatives and related speakers, particularly on the attraction investment in the blue economy, coordination among private and public financing mechanisms at international, European and national, regional level for transport and digital connectivity of the Black Sea.

Specifically, during the statement, Mr. Ciopraga shared experience of TRACECA regarding the international transport connections, latest plans and mainly projects within its regional cooperation and its further introduction. TRACECA encourages and promotes the participation of private sector in financing and managing transport projects. Public partnership with private investors for the development of transport infrastructure became a widely spread practice in TRACECA countries. 
     Within the speech, Mr. Ciopraga made presentation of all prioritized and selected projects from each of 13 TRACECA Member-countries (Armenia, Azerbaijan, Bulgaria, Georgia, Kazakhstan, Moldova, Romania, Tajikistan, Turkey, Uzbekistan, Ukraine). 

Mr. Ciopraga mentioned that the presented projected passed from each member-country passed through the procedure of prioritization. In compliance with this procedure, countries determined the most important projects at the regional level. Authorized representatives of the neighbouring countries evaluated a project from one country according to several criteria.

These main several criteria included: basic information with title, sector and location, objectives and description of the project, project organization, detailed budget, risk assumptions and constraints, implementation schedule, environment, rates of return as well as investment criteria. 

TRACECA countries are prepared for cooperation to promote the development of competitiveness and attractiveness of the Europe-the Caucasus-Asia corridor (TRACECA) and to contribute through its implemented investment and infrastructure projects to further liberalization of foreign trade and removal of obstacles on the way of passage of goods and transport, especially in building efficient transit Eurasian communications.

For further information and detailed introduction of project fiches all stakeholders and representatives of the Forum were directed to TRACECA website under section of Investment Forum.