Modern economic diplomacy as instrument for achieving economic objectives of the Republic of Serbia

Abstract

The term economic diplomacy includes diplomatic activities of officials in order to increase exports, attract foreign investment and participation in the work of international economic organizations. Economic diplomacy is a way, model and style of management and maintenance of economic relations between the countries. Thus defined economic diplomacy is of great importance, especially for countries that run to reach a certain level of economic development, as is the case with the Republic of Serbia. The Republic of Serbia after the transition from a socialist to a capitalist system began operating a number of reforms and changes, but has not managed to achieve all the goals. With hindsight economic diplomacy becomes the most important instrument for achieving the objectives that were supposed to be implemented even several years ago.

Keywords

• economy
• diplomacy
• the Republic of Serbia
• economic relations
• development