Dubrovnik Hosts Major Three Seas Initiative Summit

The news in Croatian

1. održavati se
   događati se na određenom mjestu u određeno vrijeme ↩︎
2. inicijativa  (f.)
   prijedlog ili organizirani pothvat kojim se želi nešto pokrenuti ili promijeniti ↩︎
3. političar  (m.)
   osoba koja se profesionalno bavi politikom ↩︎
4. poduzetnik  (m.)
   osoba koja vodi vlastitu tvrtku i organizira posao kako bi ostvarila dobit ↩︎
5. energija  (f.)
   snaga koja se koristi za rad strojeva, grijanje, svjetlo i slično ↩︎
6. ulaganje  (n.)
   stavljanje novca ili sredstava u neki posao kako bi se u budućnosti ostvarila dobit ↩︎

Translation

Text comprehension

Question 1: Who is coming to Dubrovnik for the Three Seas Initiative meeting?

Question 2: What are two things Croatia hopes to get from this meeting?

Vocabulary

Croatian	English
održavati se	to take place
inicijativa  (f.)	initiative
političar  (m.)	politicians
poduzetnik  (m.)	entrepreneurs
energija  (f.)	energy
ulaganje  (n.)	investment

Read the full story

Dubrovnik has become the centre of the Three Seas Initiative (3SI) this week, as political leaders and business representatives gather for a two-day summit and business forum. The event marks the tenth anniversary of the initiative and brings the project back to the Croatian city where the first summit was held in 2016.

Croatian Prime Minister Andrej Plenković said Croatia is pleased with what he described as an unprecedented response from the business community. Around 1300–1500 participants are expected, with roughly 85% coming from business, banking and investment sectors. According to the government, this is the largest number of businesspeople ever to attend a 3SI forum.

Executives and delegates from global companies such as Maersk, Mitsubishi, Siemens, Blackstone, Westinghouse and Shimizu Corporation are due to take part. A substantial United States delegation is also expected, including US Energy Secretary Chris Wright and senior State Department official Allison Hooker. EU commissioners and other international guests are scheduled to attend as well.

The Three Seas Initiative was launched in 2015 on the joint proposal of Croatia and Poland. It focuses on strengthening transport, energy and digital infrastructure among EU member states located between the Baltic, Adriatic and Black Seas. Thirteen EU countries currently participate, with strategic partners including the United States, Germany and Turkey.

Croatia took over the presidency of the initiative last year and has stated that its priorities include reviving parliamentary cooperation among member states and deepening ties with European and international financial institutions. During the Dubrovnik summit, an agreement is expected on a new Infrastructure Fund, created in cooperation with the European Investment Bank. The Croatian government has instructed the Croatian Bank for Reconstruction and Development to contribute 20 million euros to this fund.

The summit is also linked to the existing Three Seas Investment Fund, which has already raised between 1 and 1.3 billion US dollars for regional projects. Analyst Ian Brzezinski of the Atlantic Council, one of the early promoters of the 3SI concept, described the initiative as a now “established forum” that brings together leaders and investors from across the world. He said the fund has been invested across the region and is generating what he called solid returns, supporting the idea that private capital can profit from infrastructure in Central and Eastern Europe.

Brzezinski pointed to Croatia’s LNG terminal on the island of Krk as an example of the kind of infrastructure that reflects the spirit of the initiative. Gas arriving through the terminal is distributed to other parts of Europe, which he argued boosts both economic development and energy security in the region. For Croatia, he said, wider infrastructure links created under the 3SI framework translate directly into jobs and new business opportunities.

At the same time, Brzezinski and other observers note that the initiative still faces challenges. While it has increased international awareness of the region’s economic potential, critics argue that the number of clearly defined, joint cross-border projects remains limited. Brzezinski suggested that the 3SI now needs a permanent secretariat. In his view, relying mainly on annual summits means that activity slows down between meetings, whereas a dedicated office could promote the region daily, maintain a database of investment projects and coordinate work between summits.

The initiative is also evolving geographically. Commentators highlight that with new participants, it is increasingly difficult to speak literally of “three seas”. Greece has already joined, and Italy’s parliament has unanimously supported membership, potentially from next year’s summit. There is also discussion of extending cooperation towards the Arctic region, which would further increase the initiative’s economic and geostrategic significance.

For Croatia, this expansion could be particularly important. Analysts suggest that the corridor from Dubrovnik to Rijeka may become a strategic crossroads if infrastructure plans advance and if, as some experts put it, “smart policies” are followed. However, not all regional energy questions are resolved. The planned southern gas interconnection between Croatia and Bosnia and Herzegovina has still not been finalised. The project, which would link Bosnian gas infrastructure to the Croatian system, has reportedly become a domestic political issue within Bosnia and Herzegovina, with disagreements over which company would manage distribution. US diplomacy is said to be encouraging further talks, but a final agreement was still uncertain at the start of the summit.

Several bilateral issues are also on the agenda. One of them is a revised double taxation agreement between Croatia and the United States. An earlier version was signed some years ago but stalled in the US ratification process. Croatian media report that a new, updated text is now being prepared, with the aim of speeding up approval in Washington.

Croatian television has additionally reported on a large potential US investment project in Croatia, known under the working name “Panteon”. According to these reports, the project would involve building a major artificial intelligence and data centre in inland Croatia, with an estimated value of around 50 billion US dollars. Journalists say a related agreement could be signed around the time of the summit, although details have not yet been officially presented. Commentators have also raised questions about whether Croatia’s current energy capacity would be sufficient to power such a large facility. More concrete information is expected as discussions progress in Dubrovnik.

This week’s events coincide with the eleventh Three Seas summit. From the first gathering in Dubrovnik in 2016 to the current meeting in 2026, the initiative has grown into a regular platform linking Central and Eastern European EU members with partners in the United States, the European Union and beyond. While views differ on how far it has moved from high-level debates to fully realised infrastructure projects, the strong presence of global investors and officials at this year’s summit indicates continuing interest in the region’s role as a bridge between North and South, East and West in Europe.

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