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On 29 April in Tallinn, the Minister of Foreign Affairs of Estonia, Kęstutis Budrys, met with the Minister of Foreign Affairs of Estonia, Margus Tsahkna. Ministers discussed bilateral cooperation on economic, security, infrastructure issues, and European Union (EU) policies to strengthen the region's resilience and competitiveness and ensure a united response to current geopolitical challenges.

In the meeting, the Minister emphasized that Lithuania appreciates the growing interest of Estonian businesses in Lithuania's innovation ecosystem. According to the Minister, since 2020, Estonian venture capital funds and business angels have invested 76 times in Lithuanian start-ups, which testifies to the growing trust in the Lithuanian business environment.

“We are delighted that Estonian investors see Lithuania as an attractive, innovation-friendly country. We believe that this cooperation will expand even further," said the Minister.

Budrys emphasized that Lithuania is strongly committed to strengthening the development and implementation of economic security policy in the EU. According to the Minister, Lithuania actively supports the establishment of an EU Council Working Group on Economic Security, which will be initiated during the Lithuanian Presidency.

"Economic security is becoming a cornerstone of the EU's resilience. We appreciate Estonia's decision to support the establishment of a working group and look forward to continuing to work closely with like-minded people", said the Minister.

Budrys and Tsahkna discussed possibilities to accelerate the implementation of strategic projects such as Rail Baltica and Harmony Link. Ministers also exchanged their views on the Baltic states' ambition to end residual railway dependence on Russia  and to fully integrate into the European railway system.

"We need to act in a coordinated way, both by mobilising EU financial instruments and by creating a harmonised framework for the transition to a rail business model that meets EU standards," the Minister said.

At the meeting, the Ministers of Lithuania and Estonia also discussed support for Ukraine and measures of pressure on the aggressor, Russia.

“We need to work together for peace in Europe by supporting Ukraine and continuing to press Russia. It is important to limit Russia’s revenues from the oil trade, which is currently the only measure with a real impact. We also need to consider additional measures aimed at a wider Russian energy supply chain, including restrictions on the participation of financial institutions in energy-related transactions," said Budrys.

The head of Lithuania's diplomacy said it was necessary to take advantage of the current geopolitical moment and start the formal process of Ukraine's EU accession negotiations by opening all six negotiating clusters.

Photo: Estonia‘s MFA