Addressing a panel discussion on the Three Seas initiative, he said the project, coordinating the economic interests of countries located between the Baltic, Black and Adriatic seas, would build confidence in the region.

He emphasised that the initiative focuses on infrastructure development and is by no means aimed against the European Union. Latorcai said that agreements on the delivery of US shale gas would greatly improve the security of energy supplies to Europe. He added, however, that the failure of some former plans gives cause for caution.

Commenting on public road and rail infrastructure, Latorcai said that in line with a government decision, all motorways in Hungary will extend to the border by 2020-22 and railway lines will be modernised. During the international forum, Polish and Hungarian clusters specialising in smart technologies concluded an agreement.

The agreement supporting mainly SMEs, startups, social and family enterprises and businesses headed by women was signed by representatives of Hungary’s Smart Future Innovation Cluster, the ICT Cluster of Mazowiecki and the Association of Polish Energy Clusters.

Republished with permission of Hungary Matters, MTI’s daily newsletter.