Event
7th edition / Day 1 (22.06.2022)
17:30‑18:15 - International Stage

Trade with Three Seas Initiave countries. How to increase it?

Economy

The Three Seas Initiative countries as markets that can potentially replace Russia, Ukraine and Belarus as destinations for Polish exports. As a result of Russia's invasion of Ukraine and subsequent sanctions imposed by the European Union and the U.S. on Russia and Belarus as well as difficulties in trading with Ukraine, Polish entrepreneurs who used to export to the East are forced to look for new markets. The losses for Polish exports are quite severe, as exports to Russia amounted to about €8 billion annually, to Ukraine €6.5 billion, and to Belarus about €2 billion. On the other hand, Polish exports to the Three Seas Initiative countries, including the Balkans and the Baltic states, may be much larger than before. For Poland, the Three Seas Initiative is 11 markets with a population of over 70 million.