Economic Diplomacy

1. The essence of the political aspects of economic diplomacy

Economic globalization has increasingly made economic diplomacy a significant factor in foreign policy. Economic progress and prosperity depends on beneficial relationship with other countries and each country wants to penetrate into other countries with its goods, services, labor and investment. Global economic issues have great impact on domestic issues, and in the process, economic diplomacy involves global economic issues.

Economic diplomacy is concerned with the prediction of outcomes of future trade regimes and therefore it will need an understanding of market factors at work in a given global economic environment, and in that process, a country will involve itself in making decisions in advancing economic interests. There is an awareness that economic diplomacy may strive for greater transparency, better information, greater clarity and more publicity. Private sectors give high priority to transparency. Economic diplomacy refers to the use of our political influence and relationships to:

* promote international trade and investments; improve the functioning of markets;

* reduce the cost and risks of cross-border transactions; achieve internationally accepted standards;

* secure private property rights;

* develop international telecommunications, energy and transport networks;

* consolidate the right political climate to facilitate and institute all of these objectives.

There is an old statement: if diplomats are not engaged in war, they are engaged in trade. Despite the fact that economists have not reached a consensus on how best to achieve the liberalization of markets, the benefits of international trade, which is based on international specialization and division of labor is one of the most common thoughts, regulations, concepts, principles, concepts, ideas, followed by the economy. Countries should survive the short-term economic problems in order to obtain long term benefits of the transition to liberalized markets. Politicians encountered on the problem of necessity to create a balance between costs and benefits. Thus, liberalization of trade policy can have a significant impact on the overall economic well-being, but an inequitable distribution does not allow perceive it positively. Despite the growing importance of trade issues to diplomacy, its political aspects still hold key positions in the list of priorities.

2. Staffing functions of economic diplomacy

The role of a diplomat has a tremendous impact on foreign policy decision which consequently finds expression through certain means such as communication and technology, with the primary motive of using information and representation as a vital instrument of diplomacy. Diplomacy therefore can be said to be defined as the professional management of relations across sovereignty.

Analysts say that for effective participation in the negotiations diplomats have to get some additional training. Problem of qualified diplomats and their professional preparedness to provide national interests and at the same time contribute to improving trade and economic interests of domestic business was one of the biggest problems.

Changing the functions and role of modern diplomacy confronts this service twofold in the personnel area. On the one hand, it supplies the possibility for international dialogue between specialists, deeply aware of some specific areas and able to cope with similar professionals at other countries. On the other side, training of diplomatic personnel should provide the ability to work directly on a number of areas. One of the main functions of diplomacy, such as economic is to collect objective information about what is happening in the world, and its evaluation in terms of the interests of the state, and this can actually be carried out only when partner with another embassy or foreign ministry trusts another one.

For professional qualities of economic diplomat include the next one:

* knowledge and experience in the field of trade and economy, including the global economy and international economic relations;

* knowledge of international private and public law and related industries;

* knowledge of the specific economic partner countries;

* knowledge of at least two foreign languages.

There are a lot of different objectives of economic diplomat in modern conditions. Some selected one for the practitioners of economic diplomacy could be:

* development based on an analysis of information complex bilateral and multilateral relations between country and in the world community;

* development projects, conclusions and proposals for the implementation of international agreements;

* development of policies and concrete measures to expand economic and trade, financial relations, scientific and technical, cultural and other exchanges between countries and international organizations;

* providing a unified system of registration of contracts;

* attraction of foreign investment into country.

Modern diplomat must show sufficient awareness of economic issues, bearing in mind the interests of their own country, and knowledge of specific economic partner countries. Moreover, diplomats must look nowadays with dismay upon the field of his professional activity. The purpose of diplomats is to develop and diversify international relationships, to avoid international conflicts, to foster understanding and thereby promote confidence, tolerance and mutual esteem.

3. Expanding role of diplomacy in the economic field

For economic diplomacy to be effective, it must have a clear vision and orientation, must be effectively organized, equipped with sufficient human and financial resources, understood as an active part of the state's foreign and economic policy and created and conducted in partnership with the private sector and based upon real demand for Czech firms and their services. As we live in a dynamic world that has been changing at a tremendous pace, the pressure on diplomats to perform for their countries has also increased, not only because of the changing world, but because of the domestic priorities of each country.

Expanding role of diplomacy in the international economic field is the result of development and modernization of the structure of the world