The European Defense Agency said the procurement is within the framework of its Effective Procurement Methods initiative for pooling procurement efforts.
"This joint procurement case is a manifestation of the trust between the three Baltic states and the European Defense Agency," said Ingvar Parnamae, Estonia's national armament director. "We appreciate the support by the agency and invite other member states to join this initiative,"
The Carl Gustav, made by Saab of Sweden, is a multi-role, man-portable weapon that fires 84mm rounds.
The order by the three states would have an estimated value of $65 million.
EDA said it will assist the countries in the order's arrangements and contracting process.
The agency is an arm of the European Union and previously conducted several Effective Procurement Method cases, including the procurement of logistics services for three member states.
Notable deaths of 2014 [PHOTOS]
Navy tests MQ-8C unmanned helos