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The declaration notes that together with the positive tendency observed in the global economy, the rapid downturn in the Baltic States' economies has been halted after more than two years, unemployment levels have been reduced, and growth has been seen in exports. The Baltic Council also expressed its approval of Estonia's accession to the eurozone, which will lay the foundation for the sustainable future development of each of the Baltic States' economies, reports LETA.

The Baltic Council called for the purposeful strengthening of economic and financial cooperation between the three countries, with a view to "ensuring a stable business environment, stimulating knowledge-based economic and research development, and raising the region's competitiveness".

The declaration also stressed the significance of the linking up of the Baltic energy market and the transport infrastructure project "Rail Baltica". At the press conference following the session, Estonian Foreign Minister Urmas Paet stressed the absurdity of the situation where from Tallinn it is impossible to travel by train to Riga and from there onward to central Europe.

The Baltic Council also noted with approval the three countries' close cooperation in matters of security policy and defense. The declaration expresses the view that the new NATO Strategic Concept will increase the security and unity of the alliance and of the three Baltic States. "The Baltic States indicate their readiness to continue to contribute to the NATO operation in Afghanistan, which is one of the Baltic States' priorities in the field of security policy," notes the declaration. The Baltic Council also expressed its approval of NATO's Baltic air space patrol, which is testimony to the solidarity and presence of the alliance in the region.