Economic diplomacy has to do with the application of a wide range of economic instruments in serving the national economic interests of a nation. Economic diplomacy covers all of the nation’s major foreign economic activities like policy initiatives aimed at affecting exports, imports, free trade agreements, lending, foreign assistance etc.
The scope of economic diplomacy has evolved over times and with the outbreak of COVID-19 pandemic, is important developing nations economic diplomacy align with their national economy policy. This should encompass all their main national trade, investment and financial activities.
The Global Economic Governance Program was formed to promote research and discussion on how international markets and structures could best serve the social needs of third world countries via policy researches and stakeholders involvement.
The program aims to:
-
1
Understand how international rules, institutions and practices governing the global economy are forged and impact citizens and the environment;
-
2
Incubate new ideas and policy proposals aimed at reshaping the global economy to address the most pressing needs of citizens and environment;
-
3
Foster dialogue between academic, government and stakeholder groups, including under-represented voices, to improve the quality of policy analysis and decision-making.