-Sunil Kumar Poudyal
Kathmandu, Nepal
Although the modern diplomacy is defined in different terms, crux of the matter rests upon financial viability and prosperity interest.
So the skill of diplomacy usually develops in the process of extending domestic policy to the foreign land through diplomats in the course of his/her formal or informal education based on one’s country.
The nation adopts its own policy, endorsed by the legislature following the recommendation draft by the foreign ministry.
But this public diplomacy solely is not sufficient in the modern era of globalization.
Thus economic diplomacy has been kernel point of foreign policy that influences other forms of diplomacy though it is traditionally defined as a process of policy making.
Since the 20th century, this concept has emerged as an integral part of foreign policy.
Even though the history of economic diplomacy cannot be traced in exact date which could define it as a new concept, it is termed as one of the indispensable dimensions of diplomacy.
If we believe in the definition of money as ‘a medium of exchange for goods or services’, the territorial expansion in the traditional system of rule or relationship or war of one country with other was also for the extraction of wealth which obviously was a lineage of economic diplomacy.
In other words, it is the international activities of every nation state not only to boost up her overall growth but also to survive in today’s most competitive world of fast growing economy, science and technology.
It is the foreign policy that decides the goals and objectives of economic diplomacy followed by the country’s economic policy.
Economic diplomacy is an essentially central part of foreign policy and international activities of a nation.
We all know that economic security enhances the territorial security.
Therefore economic security should be augmented through diplomatic skills and methods.
National interest is the fundamental objective of every nation. In the modern age of competitive world economy, a country should use full scope of economic tools.
On the basis of a country’s foreign and economic policy, a diplomat deputed in the foreign country should monitor economic policy of the host country and thereby s/he should report her/his home country followed by his/her advice as how home country’s policy can optimally influence the country for the benefit of own country.
This acumen of a diplomat requires expertise to analyze effects of one’s country’s economic situation in accordance with political environment and the economic interest of the country.
In this regard the diplomat is to be deputed that could dexterously deal the interest and objectives of the home country.
Thus a diplomat should also have qualities of versatility, flexibility and sound judgment including perfect negotiating capability and strong business skills.
Economic diplomacy is not only concerned with government to government relation.
There are other wings in the society which play major part as UN agencies, NGOs, business men, investors etc.
Diplomacy as pronounced is concerned with a state to play a positive role for one’s country influencing other countries.
The term ‘economic’ by definition involves business men, decision makers and policy formulators. Thus here comes the role of a diplomat who initiates and facilitates the players in economic diplomacy.
A scholar has said economic diplomacy as ‘the process through which countries tackle the outside world to maximize their national gain in all the fields of activity including trade, investment and other forms of economically beneficial exchanges, where they enjoy comparative advantage; it has bilateral, regional and multilateral dimensions, each of which is important.’
The scholar’s saying clarifies that the country’s single motto from the foreign country is to secure maximum advantages for one’s nation.
But it can only be achieved through receiving nation’s suitable economic policy and the concerned diplomat’s tackling and negotiating capability which can influence the foreign cooperation for the benefit of home country.
China’s OBOR ( One Belt One Road) strategy should take into consideration as one most ambitious strategy of the 21st century involving infrastructure development and investment in 152 countries and international organizations in Europe, Asia, Middle East, Latin America and Africa.
The OBOR strategy aims to construct a unified wide market to manipulate international as well as domestic markets enhancing regional connectivity which covers more than 68 countries in the world.
This is one of the best, long lasting and influential projects to boost up foreign policy and economic diplomacy of China in the long run.
In this modern age of globalization and liberalization, it would not be enough only to move ahead rapidly in order to materialize the objectives of peace, security and progress simply being dependent on two giant economies of Asia bordering south and north boundary of Nepal but also need to garner all the possible devices so as to negotiate with other countries of the world in supersonic speed.
Best use of diplomat’s vision, versatility and negotiation skills accompanied by country’s suitable economic policy should be furnished in the international arena that could acquire maximum benefit.
To ensure optimum benefit for the betterment of nation through economic diplomacy, the entire policy should be based on utilization of all the concerned government bodies along with diplomats and the core of supportive business and investment channels.
Nepal is well blessed by plenitude of natural resources including very rare herbs in the world.
If we handle them properly for promotion of export, Nepal can obviously generate much of domestic employment opportunities and create favorable balance of payment so that the dreams of Nepali people and the dream for prosperous Nepal may come true.
End text.
Thanks the distinguished author Mr. Poudyal: Ed. Upadhyaya.
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