Economic diplomacy mechanisms in global economy: world experience and Ukraine

Abstract

In a globalized world fades the line between foreign and domestic policy, and a number of internal problems of the country can be successfully resolved at the level of international cooperation. In the context of globalization is necessary not only improvement of traditional instruments and means of international cooperation. But it is necessary active search for new forms, practices, and institutions of the international partnership that would adequately meet the changes and the development of foreign trade and economic relations and would form a mechanism for the effective solution of the problems that constantly arise. The system of such tools and means is named as economic diplomacy, the role and importance of which in recent years has increased significantly. Successful examples of the use of economic diplomacy can be found in the activity of China, Russia, some of EU countries. Interesting is the experience of Ukraine, which during the years of its independence sequentially changed several models of economic diplomacy. The experience of many countries in the world shows that only in the presence of effective and relevant economic diplomacy state can count on high macroeconomic outcomes and gain high position in the geo-economic processes and in the system of international division of labor. In such circumstances, it is important to develop within the bodies of state administration specialized separate entity, which would be entrusted with the functions characteristic of the practical side of economic diplomacy.