The idea on establishment of the Baltic Assembly Prize was conceived in 1992. On 31 October 1993 in Tallinn, the Baltic Assembly adopted the decision to establish the Baltic Assembly Prize for Literature, the Arts and Science.
The aim of the Prize is to support outstanding achievements in literature, the arts and science; demonstrate the common interests of the countries in this region in upholding of their national identity and self-esteem; create an opportunity to learn about the achievements of the neighbouring countries; maintain a continuous interest among the people in Estonia, Latvia and Lithuania about developments in the Baltic States; strengthen cooperation among the Baltic States in the fields of literature, the arts and science; encourage more and more people to become interested in the intellectual values and languages of the Baltic nations; and raise the level of literature, the arts and science in the Baltic States.
The Prize consists of a monetary prize, a certificate and a statuette, which are awarded annually during the Session of the Baltic Assembly.
The most recent awarding of the BA Prize took place during the 31stSession of the Baltic Assembly on 9 November 2012 in Vilnius, Lithuania.