economic diplomacy

The Ministry of Economy has announced that preparations for the ‘World Trade Development Week 2017’ to be held in Dubai from 30 October to 1 November, 2017, are underway. [...] HE Al-Kait revealed the main agendas of the three-day event happening under the theme ‘Navigating Global Trade & Reviving Global Growth’. More than 1,500 representatives from government entities and local and international private institutions are expected to attend the World Trade Development Week in Dubai, ahead the WTO Ministerial Conference. 

British chancellor Philip Hammond has called for closer economic ties with China as Britain enters a new post-Brexit era. As early as in 2015 when Chinese President Xi Jin-ping made his first state visit to the United Kingdom, which ushered a “golden age” to bilateral relations, the two great powers declared their consensus in working together with all Belt and Road project partners. [...] China and Britain need to use Xi’s proposed Belt and Road Initiative to raise awareness of the mutual benefits and overall exchanges of people to people of the two countries. 

The first Africa Business Summit of NRI forum Gopio began with a call to diaspora Indians to help develop the economies of their own countries and India, using resources they have built over the decades. The three-day summit in Durban organised by Global Organisation of People of Indian Origin (Gopio), a non-profit global movement to fight human rights violation of overseas Indians, has brought together 200 delegates from across the globe. [...] It's known that "Indians at all levels continue to set an example and play a role in uplifting the countries where they find themselves." 

For those in the West who have lived the second half of the 20th century, being under the United States’ tutelage was a mere fact of life. As the great victors of World War II and uncontested rulers of nearly every international institution in the world – UN, IMF, World Bank, GATT, NATO etc. – North Americans have transformed Central and South America into their own backyard. Now change is said to be underway. 

“Vision 2030” shows that Saudi Arabia is conscious about the necessity to reform the country’s economy. Its cut in social spending, the plan to introduce a tax on expenses by 2018, and –more importantly- its plan to privatise the state oil company Saudi Aramco are very positive. [...] The success of Saudi Arabia’s economic reforms is crucial to the West, who needs a stable Saudi Arabia in an already chaotic Middle East.

Britain may lack hard power, but the soft power of influence and a network of relationships deriving from decades of active and assiduous diplomacy still count for something. [...] Britain is one of the leading supporters of the new style of Chinese economic diplomacy, involving the furthering of solid infrastructural links along which mutually beneficial trade and investment can flow to an increasingly interlinked world.

 

China has begun using the One-Belt-One-Road project, rechristened the Belt-and-Road Initiative (BRI), for expanding diplomatic engagement and securing strategic mileage. India might find itself strategically cramped as several countries from Asia and Europe get more committed to the Chinese connectivity plan, leaving India isolated. In a major public diplomacy exercise, China has announced scholarships for at least 3,000 students from countries and regions around BRI.

Australia’s Ambassador to China HE Ms Jan Adams AO PSM said, “The Australian Embassy proudly supports Screen Australia, Ausfilm and the Australian screen industry. Our work together delivers public diplomacy and economic diplomacy benefits by highlighting Australian creative excellence, deepening cultural understanding and delivering business opportunities in a fast growing market. 2017 is the Australia China Year of Tourism and marks the 45th anniversary of diplomatic relations. It is a great time to be making co-productions.”

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