Energy, EU – Baltic States, Forum, Latvia

Photo: tvnewsroom.consilium.europa.eu

The Economy Ministry informed LETA that at the same time, 13 European countries signed a declaration for regional cooperation on security of electricity supply within the European internal market, and a political declaration of the Pentalateral Energy Forum.

"The BEMIP is widely considered as successful and leading example of regional cooperation in the European Union (EU)," said Latvian Economy Minister Dana Reizniece-Ozola (Greens/Farmers) during the signing ceremony. She also stressed that by signing the memorandum of understanding, "we officially agreed on reinforcing regional cooperation in the BEMIP region, and this demonstrates our mutual solidarity, shared values and political willingness to find the win-win solutions in that regard to contribute to the implementation of the EU energy policy goals."

The memorandum of understanding declares readiness of the member states to cooperate in addressing the current challenges in the energy sector. Baltic regional energy cooperation initiatives must be enhanced to strengthen and broaden the cooperation between the countries of the Baltic region with a view to achieve fully integrated markets, strengthen energy security, and promote the use of renewable energy resources and the demand for energy.

Meanwhile, Commissioner Canete said that "these agreements are a first milestone".

"They give the political backing to a stronger energy co-operation in Europe. The signatory countries are determined to enhance security of supply through further market integration. This is one of the main building blocks of the Energy Union, which is one of the key priorities of the Juncker Commission. Today, the member states begin synchronizing their efforts and working together towards cheaper and more effective solutions. Where there is a will there is a way. Today, the member states are showing their will," he stressed.