Nations urged to promote economic diplomacy

Abu Dhabi - We have to promote our national interests in the international markets to win, says Portugal former deputy prime minister

Economic diplomacy has a key role in shaping government policies, Paulo Portas, the former deputy prime minister of Portugal has said in Abu Dhabi.
Paulo Portas was giving a lecture on the topic 'Economic Diplomacy: The Core of New International Affairs', organised by Emirates Diplomatic Academy (EDA) on Thursday.
"There are no more local or national markets, there are only international markets, and we have to promote our national interests in the international markets to win," he said, while describing effect of globalisation in international relations.
Portas, who also served as the minister of state and foreign affairs from 2011 to 2013, and minister of defence from 2002 to 2005, noted that in order to understand economic diplomacy, it is important to aim to be global.
"Not everything that is national becomes global, but everything global can become national. Globalisation has changed the very nature of diplomacy, and the UAE has understood this phenomenon.
"The EDA is a good example of the UAE's sophisticated approach towards foreign policy, where future diplomats are provided knowledge at the theoretical as well as practical levels."
He added: "The UAE is a very young country, hence it has great opportunities to build co-operative relationships with enterprises and other governments."
On the occasion, Portas called on embassies to adopt the concept of 'One Embassy One Team' by unifying responsibilities, sharing information and acting together to achieve success in economic diplomacy.
"Diplomats should try to be economic experts. We need to have practical and pragmatic agendas while making bilateral agreements with other nations," he added.
Describing digital diplomacy as an instrument for economic diplomacy, Portas said: "Digital diplomacy is relevant in this age. It is very important to invest in new ideas to promote investments for the nation.
"We need to use all the tools available and they include digital media. We can get new ideas right from our local markets that will help us in getting investments from international enterprises."
On the occasion, Bernardino Leon, Director-General of EDA, said, "The EDA is focused on providing our students with the knowledge and expertise based on real time experiences related international relations."
reporters@khaleejtimes.com

• UAE
• Abu Dhabi