Riga, Jun 21 (IANS): The Summit of the Three Seas Initiative (3SI) was held in Riga, the capital of Latvia, in a bid to explore new possibilities for development and cooperation to promote the region's economic growth and attract investment.

The forum was attended on Monday by leaders of 12 countries, strategic partners, international entrepreneurs and investors in the Latvian capital.

The participants aim to make policy decisions to promote investment in key areas and make their economies resilient and fit for the future, said Latvia's President Egils Levits.

Infrastructure needs along the north-south axis of the European Union (EU) are still enormous, he said, adding that stronger digital, transport and energy links along this axis are crucial for the cohesion of the EU.

"The task ahead of us is to boost our strengths in three areas: energy, transport and digital. Our energy connectivity has to be brought into sharper focus," Levits said.

A business forum was also arranged for discussion on the latest economic and investment trends, the diversification of energy sources, innovative mobility and logistics solutions, as well as digitalisation.

The Three Seas Initiative is a cooperation format launched in August 2016 by 12 EU member states: Austria, Bulgaria, Croatia, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Slovakia and Slovenia.