Economic Diplomacy in the 21st Century

This study examines the changing nature of the economic diplomacy in past and recent years. Since the end of the Cold War, there has been an important dynamics in the international relations. The consequences of this dynamics touch also the economic diplomacy, which is transformed by the effects of the economic globalisation and becomes more complex and important at the same time; it becomes one of the most influental instruments of state's foreign policy. The growing complexity means that there has been new players, issues and arenas emerged. New players, state and non-state; the latter have deep impact on the nature of economic diplomacy. Bussiness sector, represented mostly by transnational companies (TNCs) and "the global civil society" represented vy international non-governmental organisations (INGOs) shift the balance of power within the state. The central role of state is challenged and his power fragmentised. Except this horisontal widening of economic diplomacy yb growing numbers of its actors, it is also deepening in terms of its agenda. The national policies become internationalised or even globalised (services, investment, enviroment, customer protection, labour standards) and the regulation of international trade puts pressure on national governements to to reconsider the strategy and their..