Globalisation has offered new economic opportunities in several fields, including science, communication, and technology, but at the same time, it has increased the competition for capital and economic marginalisation of developing countries. A bilateral relationship is a constituent of several items that encompass politically, culturally, and economically motivated relations between two independent nations.
In contemporary diplomacy, economic diplomacy has acquired increasing importance involving a shift in priorities and becoming more multi-stakeholder in nature. Economic diplomacy can be characterised as an arrangement of activities with respect to procedures and strategies for cross-border monetary activities that help establish links between corporate players and the state for export or investment purposes. It focuses on tariffs, foreign exchange, the sale of goods, and customs negotiations. Economic diplomacy works on the premise that economic/commercial interests and political interests reinforce each other and, therefore, need to be considered together.
Protectionism and political differences will always be the biggest blocks to the free flow of trade, and it is necessary that India align its trade policy with its domestic and international outlook on other issues, before rashly entering or leaving free trade agreement notifications. India's active economic diplomacy of late has positively reinforced bilateral and bloc relations.
Denne historien er fra May 2024-utgaven av Extraordinary and Plenipotentiary Diplomatist.
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Denne historien er fra May 2024-utgaven av Extraordinary and Plenipotentiary Diplomatist.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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THE WOLF ECONOMY AWAKENS
Mongolia's Fight for Democracy, and a Green and Digital Future
DESTINATION Kenya
Background - My interest in visiting Kenya began on December 3, 2016, when the Kenya Tourism Board organized the Magical Kenya Open Golf Tournament in Delhi. The event, by invitation only, attracted many notable figures from Delhi NCR, and I was fortunate to be one of the winners. Along with a beautiful trophy, the prize included a trip to Kenya to play three rounds of golf in Nairobi and visit the renowned wildlife sanctuaries of Kenya.
THE POLITICAL LESSONS FROM THE MAHABHARATA
The word 'politics' always inflicts a sense of excitement as well as resentment amongst the public at large. Often people irrespective of gender or age are found commenting upon the dynamics of politics and the way it has taken shape over the years.
UNIVERSAL HEALTH INSURANCE: TRANSFORMING TANZANIA'S HEALTHCARE SYSTEM
Tanzania, a country known for its rich cultural heritage and breathtaking landscapes, is now setting a new precedent in the healthcare sector.
INDIA'S ELECTRIC REVOLUTION: LEADING THE GLOBAL THREE-WHEELER MARKET
Globally, long-term EV growth is expected to lower battery prices and advance next-generation battery technology, enhancing the economic viability of electric vehicles. According to a BNEF report, the three-wheeled vehicle segment is on track to reach net zero emissions by mid-century, with India's growth positioning it as a global leader.
INDIA'S STRATEGY TO SCALE UP GREEN HYDROGEN PRODUCTION
India's first multi-purpose green hydrogen pilot project at 1,500 MW Nathpa Jhakri Hydro Power Station (NJHPS) in Himachal's Jhakri was inaugurated on April 24 this year.
"Vietnam-India comprehensive strategic partnership has made progress"
In an interview with Diplomatist Magazine, Mr. Le Quang Bien, Consul General of Vietnam in Mumbai, provides perspectives on the burgeoning Vietnam-India relationship, particularly focussing on trade, investment, tourism, and renewable energy sectors. With Vietnam's emergence as a pivotal manufacturing hub in Southeast Asia and India's robust technological prowess, he highlights the promising avenues for collaboration in manufacturing, technology, and agriculture. Mr. Bien also sheds light on Vietnam's rich cultural and natural attractions, emphasising the Consulate General's efforts to promote tourism and culinary exchange in Mumbai.
THE EVOLUTION OF MINILATERALS: CATALYSTS FOR STRATEGIC COOPERATION IN THE INDO-PACIFIC
The current set of multilaterals, collectively or individually are facing a challenge in achieving four objectives of the largest multilateral institutions, the United Nations viz, \"maintaining international peace and security, protecting human rights, delivering humanitarian aid and support sustainable development\", owing to rising great power competition, unbridled competition among regional powers and unprecedented challenges in the Global North and the Global South.
NAVIGATING THE CROSSROADS: VISION FOR EUROPE'S FUTURE
\"Europe will not be made all at once, or according to a single plan. It will be built through concrete achievements which first create a de facto solidarity.\" Jean Monnet - The Father of the European Union.
ECONOMIC REFORMS AND GROWTH PROSPECTS: INDIA'S AGENDA FOR THE GLOBAL ECONOMY
India's economy is of global importance with a large young population and an open and democratic political system. It is already the third-largest economy and contributor to global economic growth, yet there is considerable untapped potential.
