ECONOMIC DIPLOMACY: PRIORITY SUPPORT TO ECONOMIC RECOVERY

FERJAN Igor (General Secretary B&H “RDF”, The Reconstruction and Development Fund Geneve), igorferjan@hotmail.com

Nowadays, economic diplomacy is a priority within overall diplomacy in many countries, especially in the conditions of economic recovery. Economic recovery is one of the most important priorities in almost all countries in the world. Therefore, primary goal of this paper is affirmation of economic diplomacy as priority in activities related to solution of the problems related to economic recovery, and with the aim to achieve that goal, the paper presents the most important characteristics of economic diplomacy, institutional aspects of economic diplomacy, and position of economic diplomacy in its support to the country. Within scientific explanation of the topic and proving proposed hypothesis, during the research of economic diplomacy as priority in economic recovery, a special attention has been paid to the role of economic diplomacy in the support given to the country and its equilibrium, specifying the measures which, together with economic diplomacy, may be utilised to significantly accelerate economic recovery of any country. The paper, at its very end, elaborates the economic diplomacy of the Republic of Serbia which is facing a major crisis due to its high expenditure and inability to present actual results.

Keywords: diplomacy, economic diplomacy, economy, development, institutions