Russia’s war in Ukraine has kicked off fundamental changes in Europe and around the world. While Ukrainians heroically fight against the aggressor, in the western world there are efforts towards new unions and associations between countries that will influence not only security and international relations but also the economy and business, says President of Latvian Chamber for Commerce and Industry (LTRK) Aigars Rostovskis.
«Currently we can see varied opinions of western countries towards the situation in Ukraine. The world is divided into two fronts – countries and leaders who have clearly voiced their position and support Ukraine in its fight and countries that have close ties to Russia and whose position about the war in Ukraine is not ambiguous. This situation can serve as the foundation for new political coalitions, international cooperation and business relations,» said Rostovskis.
«In a crisis situation, which many countries have ended up in, is useful to some extent, because it has provoked countries and leaders to demonstrate their true values.
We can see these values help find new allies – the cooperation shared by Ukraine, Baltic States, Poland, Britain and USA may become tighter because these countries are close when it comes to values and actions. Through views on the war in Ukraine – positively active or passive – new business ties are formed and existing ones may become worse. In such moments we understand who we can depend on in a crisis situation. As we can see, Eastern European countries understand the situation in Ukraine much better than most old European countries, which generally look after themselves more than the region’s security. Unfortunately, over many years Europe has become dependent on Russian energy resources, and it is very hard to end it. This is why countries have to decide – democracy and human rights or dependence on cheap and accessible energy. Businessmen have to be vigilant when planning their strategies. They have to follow how the geopolitical situation affects their respective sectors. I have noticed that this ambiguous attitude and insufficient support for Ukraine is observed on a political level, whereas society is generally more unified in their support. This is why businesses shouldn’t rush and terminate contracts with partners over the position of their home country,» said LTRK president.
According to him, «formation of new unions among countries could be the beginning of changes for Europe. Similarly to the Russian-Ukrainian war, no matter the outcome, the consequences will be felt across Europe. But I can see that countries’ regrouping and new unions would be healthy, because if old European countries continue dominating, Europe will stagnate and will be akin to a museum that had once collected welfare and now no longer progresses in any direction. Under these conditions development of Eastern European countries is delayed. New unions and economic change is an opportunity for both Eastern European countries and Europe in general to develop and enhance influence. Additionally, if these countries’ ideas and values coalition enters countries like Britain and US with their economies in two, Latvia may benefit from it.»
To discuss the future and safety of Europe’s economy, during the Three Seas Initiative Summit leaders of the region’s chambers of commerce and industry will meet in Riga on 20 June.