Economic diplomacy: what might best serve a developing country? Online publication date: Sat, 12-Jul-2014
by Kishan S. Rana
International Journal of Diplomacy and Economy (IJDIPE), Vol. 1, No. 3/4, 2013
Abstract: What are the essentials for a country to practice effective economic diplomacy? These include determining which agency will handle foreign trade and investment promotion work, and the manner in which actions by the different actors involved, official and non-state, are harmonised. Also relevant are the modalities for decision-making. The manner in which international and regional arrangements are handled is another key factor. The bilateral level is where many of the key actions have to be taken, for promoting exports and foreign direct investment, through a series of concrete actions to be taken by home actors and by diplomatic missions directed by the foreign ministry. Aid management is another critical activity, for recipients and for those providing aid. Tourism and country image also connect closely with the country's management of economic diplomacy. Training officials from the foreign ministry and the other agencies that play an active role is increasingly seen as important in advancing the country's external economic interests.
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