Zelensky announces EUR 1B in deals at Carpathian Eight Summit

Ukrainian President Volodymyr Zelensky inaugurated a new regional grouping of eight nations from the Carpathian area of central and eastern Europe on Friday at a summit in Ukraine. The purpose of the grouping, dubbed the Carpathian Eight, is to bolster trade and security cooperation amidst Russia's full-scale invasion that began in 2022.

Zelensky expressed gratitude to regional partners for maintaining open trade and transport links during the crisis. The new alliance comprises Romania, Serbia, Poland, Slovakia, the Czech Republic, Austria, Hungary, and the European Union. Notable attendees included Polish Prime Minister Donald Tusk, Serbia's President Aleksandar Vucic, and Romania's President Nicolae Dan.

In his inauguration speech, Zelensky lauded the grouping as a means to forge closer ties among the countries and establish a robust framework for collaboration at the EU level. The summit is anticipated to continue until Sunday. Zelensky highlighted the potential for enhanced energy and logistics cooperation, cross-border trade, and security as key benefits of the grouping. Security remains a top priority, both in the immediate aftermath of the invasion and in the years to come, according to Zelensky.

The Carpathian Eight summit is expected to draw nearly 550 business representatives. Zelensky announced that investment and trade agreements valued at €1 billion ($1.15 billion) were projected to be signed during the event. Zelensky emphasized that the inaugural gathering marked a "good start," with a focus on energy, logistics, infrastructure, and cross-sector agreements.