Energy, Estonia, EU – Baltic States, Lithuania

Urmas Paet and Audronius Azubalis. Tallinn, 19.03.2010.

“Estonia and Lithuania co-operate in many energy-related projects that help resolve the energy supply stability and security issues of these two countries and of the entire region,” said Paet.

He stated that Estonia is interested in creating a well-functioning energy market as a part of the common energy market with the Nordic countries. “The market regulations in the Baltic countries must be harmonised with those applicable in the Nordic countries in order to ensure that the market functions properly and that all EU market participants would be treated equally; abuse of monopoly-like positions must also be avoided,” noted the Estonian minister of foreign affairs. “In order to avoid market distortions, we need to agree on a way to regulate electricity imports from third countries,” he added.

When talking about the economic situation in general and of Estonia’s accession to the euro area, Paet stated that following a responsible economic policy is important in terms of strength and unity in the euro area.

Estonia and Lithuania have similar foreign policy priorities, noted Paet and Azubalis. The two agreed that this is the reason for close co-operation and active communications between the two nations on all levels. Urmas Paet remarked that the trade relations between Estonia and Lithuania are growing ever closer as well. “Lithuania is one of the most important investment destinations for Estonian entrepreneurs,” said the Estonian minister.

Among countries that received Estonian exports, Lithuania ranked 6th in 2009. Lithuanian goods accounted for 10.9% of all imports to Estonia.

The two ministers also discussed the creation of the European External Action Service, reciprocal support for candidacy in international organisation, the Eastern Partnership, the strategy for the Baltic Sea region and relations with Russia.