The Priorities of the Economic Diplomacy of the Republic of Moldova

Elaborated by : Natalita Rucavita

gr.TIDE191m
 Contents

I. The main objectives of Economic Diplomacy

II. Priorities of Economic Diplomacy
III. The action of the MFAEI and the Diplomatic Missions in order to implement the
objectives of the Economic Diplomacy

Economic Diplomacy is one of the main components of the foreign policy of the Republic of Moldova and
aims to defend and promote national economic interests abroad, thus contributing to ensuring the economic
growth and prosperity of the Republic of Moldova.
The main tasks solved by economic diplomacy: achieving the strategic goals of the country in the international
arena; ensuring, at least, equal and non-discriminatory conditions for integration into the world economy, and as a maximum
of benefits and privileges in international trade and economic cooperation; protection and lobbying of the interests of
domestic business in the global market; promoting the attraction of effective external resources in the national economy.
 The objectives of economic diplomacy are elaborated taking into account the provisions of normative acts of
the Republic of Moldova as well as international practice, including: Government programs, Strategies for
socio-economic and investment development, Concepts of European Integration, other decisions, provisions
and indications. These are:

• Promoting the economic interests of the Republic of Moldova abroad .

• Development of collaboration with international economic organizations.

• Optimizing the MFAEI collaboration on the economic line with the national governmental institutions .

• Active involvement in the promotion of the Economic Diplomacy of the Honorary Consuls of the Republicof
Moldova abroad
• Optimizing the external economic action through the prism of creating all the mechanisms and tools necessary
to promote the economy of our country abroad.

• Establishing the commercial-economic sections within the Diplomatic Missions of the Republic ofMoldova .
 II. Priorities of Economic Diplomacy

The state policy in the field of foreign economic relations, aiming at the continuous integration of the country
in the world economy and ensuring the support of economic growth, will focus primarily on the development
of the following priority directions:

Promotion of foreign Attracting investments Attracting external Promoting the favorable

trade, priority having and new technologies economic economic and investment
the promotion of in the national assistance. image of the country.
exports. economy.
Promotion of foreign trade, promotion of exports

The main purpose is to promote domestic goods and services on foreign markets in a way aimed at reducing
the trade deficit and, respectively, balancing foreign trade. In order to achieve the mentioned goals, the main activities in
the field will be oriented towards:

1. Strengthening and deepening the legal framework of trade and economic relations with foreign countries,
including Intergovernmental Agreements for economic cooperation, agreements on the avoidance of double
taxation and the prevention of tax evasion on income and capital, etc.
2. Promoting the products of the sectors with high export potential in the country, identifying the strategic
export markets and facilitating the access of the national products on these markets.
3. Ensuring the participation of foreign partners in fairs and exhibitions in the country, as well as the
participation of national economic agents in such events internationally.
4. Organizing visits of business people, formation of international trade centers, marketing centers and a network
of trading houses; providing information to economic agents.
5. Expanding and benefiting from tariff facilities offered under legal arrangements with the EU, Switzerland,
Japan, Canada and the USA, as well as within the WTO.
Attracting foreign investments and new technologies in the national economy
Attracting foreign investment and new advanced technologies indisputably contributes to the creation of new
productive sectors profitable for the Republic of Moldova. A significant increase in foreign investment will
restore the basic factors of economic growth through the cardinal renewal of fixed funds and the
implementation of advanced technologies, the massive creation of new jobs, the revitalization of science, the
increase of education and science, etc., thus contributing to maintaining and accelerating the pace of economic
growth.
The priority objective of Economic Diplomacy in the field of investments is to contribute to the significant increase
of the volume of foreign investments and to maintain them at a high level.
 The achievement of the mentioned objective comprises the following elements:

Contributing to the implementation

Increasing the interests of investors for Promoting an attractive image of the
in the country of a mechanism for special areas, disadvantaged areas, free Republic of Moldova as a destination for
monitoring foreign investment entrepreneurship areas, investment flows at the level
flows science and technology, innovation and of country, region, economic branch and
industrial parks, for regional informing investors about investment
according to international development. opportunities within them.
practices.

Creation of a storage system for Organizing the country’s

investment projects in the Republic of Negotiating and concluding with foreign participation in international
Moldova and promotion of Providing information services for foreign countries bilateral agreements on mutual .
investors. programs
Moldovan investment projects in the promotion and protection of investment.
public and private sector abroad.
 Promoting the favorable economic image of the country

One of the main components of Economic Diplomacy is the promotion of a favorable economic image
of the Republic of Moldova which plays an indispensable role in obtaining external economic performance. It can be
stated that there is a direct correlation between the level of promoting the country’s image and the volume of foreign
trade, as well as the volume of attracted investments. Namely, the active promotion of a favorable image for the
country will lead to obtaining expected qualitative and quantitative politico-economic results such as:

Ensuring the credibility of Ensuring the

1

3
the Republic of Moldova as attractiveness of the Promoting the image of the
a state where investments Republic of Moldova as Republic of Moldova as a
a destination for country producing quality
are guaranteed by risks and investment flows at the
can be placed in profitable goods with increased tourist
level of country, region, potential.
and sustainable economic economic branch and
activities. informing investors.
 Based on the current political and economic situation, concrete measures will be taken in order to actively and
continuously inform, internationally, about the entity of the Republic of Moldova in a manner favorable to the
country, such as:

implementation of various promotional measures .

reflection of the country’s image in foreign media sources.

organization of Businessmen’s Missions.

distribution of advertising materials about the country’s economy through Diplomatic

Missions,

organizing thematic presentations.

In order to avoid a chaotic implementation of the measures stipulated above, the Ministry of Foreign Affairs
and European Integration proposes the elaboration of the national strategy for promoting the country’s image,
which will be oriented towards the elaboration and subsequent implementation of a complex of special
organizational, economic and legal measures as well as the mechanisms / tools for actively promoting the
favorable image of the country abroad.
Attracting external economic assistance
 An important objective of Economic Diplomacy is to identify, negotiate
and attract external financial assistance to finance the achievement of
the priorities of the development of the country’s national economy.
Particular attention will be paid to attracting non-reimbursable external
financial assistance in the form of aid, grants, as well as the
implementation of specific technical assistance programs. At the same
time, it will be examined the possibility of obtaining abroad
governmental and commercial credits in advantageous conditions,
destined for refurbishment, restructuring and development of the
industry, diversification of production, revitalization of the national
productive complex, etc. Increased attention will be paid to ensuring the
country's participation in various assistance programs (TACIS,
PHARE, USAID, AIDS, etc.) with the subsequent benefit of technical
assistance from foreign donors.
Development of collaboration with international economic organizations
 The efficiency of trade diplomacy on a multilateral level aims to deepen relations between the Republic of Moldova and international economic bodies in order to
influence and promote national interests more effectively. Making full use of the opportunities offered to the Republic of Moldova as a member of world, European
and regional organizations will remain a multilateral Economic Diplomacy priority. Thus, the objectives of economic diplomacy on a multilateral level will aim at:

1. Promoting national economic interests within international and regional economic organizations, such as:
International Monetary Fund, World Bank, European Bank for Reconstruction and Development, World Trade
Organization, Economic Organization for Cooperation and Development, United Nations Economic Commission for
Europe, Bank European Bank for Reconstruction and Development, International Bank for Reconstruction and
Development, World Customs Organization.
2. The full capitalization of the participation of the Republic of Moldova within the international and regional economic
organizations by formulating proposals regarding the increase of the participation efficiency.
3. Monitoring the financial commitments of the Republic of Moldova to all international bodies to which our country is a
party.
4. Optimizing the participation of the delegations of the Republic of Moldova in the International Economic and
Investment Forums
5. Encouraging cross-border cooperation, in terms of providing the necessary support for the implementation of joint
projects with other countries.
 III. The action of the MFAEI and the Diplomatic Missions in order to implement the
objectives of the Economic Diplomacy
The objectives of the Economic Diplomacy are promoted by the International Economic Relations
Directorate of the MFAEI and the Diplomatic Missions of the Republic of Moldova abroad. DREI has the
task of elaborating the foreign economic policy and promoting it through Diplomatic Missions, as well as
has the role of coordinator between the diplomatic representations of the Republic of Moldova, the
economic institutions in the country and the local business environment. The practical role in promoting
Economic Diplomacy belongs to the Diplomatic Missions whose attributions are:

1. Promoting the economic dialogue with the state and private institutions abroad in order to sensitize them in
making economic and commercial decisions vis-à-vis the Republic of Moldova. Identifying ways to
effectively promote bilateral economic relations.
2. Undertaking Lobby actions to promote the economic interests of the Republic of Moldova in the country
of residence and in the accreditation states by cumulation.
3. Supporting the establishment of commercial-economic collaboration, by providing the necessary support
in the creation, in the country of residence and in the accreditation states by cumulation, of bilateral
Associations, Trade Houses, etc.
4. Extending the bilateral legal framework in the commercial-economic field, by identifying the opportunities
for negotiating preferential agreements in the interest of the Republic of Moldova. Initiating and participating
in the negotiation of agreements at governmental level.
5. Elaboration of an analysis of the economic potential of the country of residence in order to determine the
strategy and tactics of economic action.
6. Elaboration of a calendar of actions in order to promote economic interests.
7. Organizing and participating in the Meetings of the Joint Commissions, of other bilateral bodies on the
economic line.
8. Providing information support in the country of residence and accreditation by cumulating on the progress
of economic reforms in the Republic of Moldova, optimizing the legislative framework in the field,
presenting the investment climate, promoting investment projects, tenders and public tenders taking place in
Moldova.
9. Informing the economic agents and the interested institutions from the accreditation countries about the
expected economic events in the Republic of Moldova (specialized exhibitions, fairs, seminars, conferences).
 Conclusion:
The modern diplomacy is a continuous, it has an important role in activity of the state and business in the implementation of
national foreign economic policy with the greatest benefits for the country and minimal costs. Its main goal is to ensure
national interests and advantages in the field of foreign economic relations, strengthening the competitiveness and economic
security of the country in the context of globalization and the growing openness of the domestic economy.
The main tasks solved by economic diplomacy: achieving the priorities goals of the country in the international arena;
ensuring, at least, equal and non-discriminatory conditions for integration into the world economy, and as a maximum of
benefits and privileges in international trade and economic cooperation; protection and lobbying of the interests of domestic
business in the global market; promoting the attraction of effective external resources in the national economy.
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