Business diplomacy as a tool for the implementation of the foreign economic interests of the Republic of Moldova

Abstract

The problems of developing the export of Moldovan goods and services, as well as improving international competitiveness, are very relevant today. Strengthening the position of the Republic of Moldova in the world economy is a necessary and inevitable task. However, foreign policy and foreign economic factors, such as pressure from multinational corporations, create difficulties for Moldovan companies to defend and promote their interests in foreign markets. The underdevelopment of the domestic export promotion system, the complexity of the international political and economic environment, numerous risks actualize the need to analyze and consider the concept of business diplomacy within the framework of economic diplomacy as a promising mechanism for ensuring the interests of industry and individual companies in foreign countries. Being a subspecies of economic diplomacy, business diplomacy is characterized as a more applied form of realization of economic interests, including methods of lobbying and communication with the state. Such a form of promotion of economic interests at the international level, based on diplomatic structures and trade missions, can promote closer cooperation of domestic companies, both with foreign state bodies and with Moldovan departments in order to realize commercial interests abroad. The article shows the real situation in the field of economic diplomacy in the Republic of Moldova and gives some recommendations for its improvement.