Dear Boris, Dear Kristalina, ladies and gentlemen.

Thank you for the opportunity to participate in this important conference and to address you this evening.

It is a pleasure to be in this beautiful city for the first time.

Dubrovnik has historically shown its ability to adapt and thrive, even in challenging times.

Today, Dubrovnik is a magnet for TV fans due to the Game of Thrones series.

Our economies and societies are undergoing a period of unprecedented turbulence.

Russias brutal invasion of Ukraine is in its fourth year.

The EU has taken significant steps to invest in defense capabilities.

We also see increasing global fragmentation and the weaponization of trade.

The EU, especially in Central, Eastern, and Southeastern Europe, is under severe pressure due to proximity to Russia and uncertainties in US trade policy.

In these challenging times, we must heed the lessons of the Republic of Ragusa: Libertas venditur auro.

We must further integrate the EU and accelerate the accession of the Western Balkans, Moldova, and Ukraine.

We must leverage our strengths by strengthening the internal market and reducing strategic dependencies.

We must deepen cooperation with existing and new global partners.

The EU remains a champion of strong global institutions to support peace and prosperity.

Thank you.