Objective 3 - Increase prosperity

This objective contributes substantially to achieving the European Cohesion Policy objectives.

Specifically, it contributes to

·     A smarter Europe by promoting innovation,

·     A more social Europe by supporting health and education,

·     A Europe closer to the citizens by providing an integrated territorial perspective and contributing to a more secure region.

To increase the prosperity of the Baltic Sea region, the EUSBSR includes actions to promote entrepreneurship, innovation, trade and digitally driven growth. This will improve business opportunities and make the internal market work better on the ground, without exhausting the resource base or the eco-systems on which they depend. This objective also targets increased cooperation between educational institutions, ensure high quality education and modern ICT, while ensuring equal participation of women and men.

The Objective 3 – “Increase Prosperity” has 4 sub-objectives:

·     Baltic Sea region as a frontrunner for deepening and fulfilling the single market:

In the Baltic Sea region there are still legal and administrative obstacles which negatively affect trade in goods and services between the Member States and with neighbouring countries. This sub-objective therefore aims to implement the internal market and to lower unjustified tradebarriers to the neighbouring countries.

·     EUSBSR contributing to the implementation of Europe 2020 Strategy

This sub-objective aims to implement the renewed focus on the objectives of Europe 2020 Strategy of smart, sustainable and inclusive growth. Deeper dialogue between the Commission, the Member States concerned, Chambers of Commerce associations and Confederation of Industries shall facilitate the Strategy’s focus on ensuring an integrated industrial policy for the globalisation era, calling for an increase in R&D expenditure and a digital single market.

·     Improved global competitiveness of the Baltic Sea region

This sub-objective aims to prioritises the creation of aninstitutional framework that sets consistent rules governing the functioning of entrepreneurship (in practice those rules are frequently too restrictiveor complex). To enhance the competiveness of agriculture and forestry as well as encouragement of diversification should be prioritised in order to improve the quality of life in rural areas. Further the sub-objective aims to better support for entrepreneurship and SME development and support culture and creative industries.

·     Climate change adaptation, risk prevention and management

The Baltic Sea region countries are all concerned by vulnerability to climate change with potential impacts on human security, the environment and competitiveness. This sub-objective aims develop a macro-regional adaptation strategy to strengthen efforts to understand, address and cope with regional impact of climate change in a region with similar geographical and climatological conditions. It also supports the promotion of strengthened cooperation in prevention, preparedness and response in the management of common risks.

To achieve those goals, the Baltic Sea Region focusses on six major Policy Areas: