Economic diplomacy instruments in the field of foreign economic activity of Russia

Abstract

Russia has a developed system of various institutions aimed to provide economic interests abroad. Intergovernmental Commissions on Trade, Economic, Scientific and Technical Cooperation covering bilateral level of cooperation. They provide a regular platform for dialogue with 104 countries. The actual issues concerning investment and trade cooperation are discussed in this bilateral level. International economic organizations providing the opportunity to work on multilateral level. There are organizations where our country is a member state (for example United Nations, World Trade Organization, etc.) and organizations where Russia acts as observer or as a participant of individual negotiation tracks and working groups (for example, the Organization for Economic Cooperation and Development — OECD). Activities within the framework of the World Trade Organization have a priority character for Russian economic diplomacy. The WTO is the largest international organization that sets itself the task of creating proper conditions for international trade. It is also a unique mechanism for the settlement of various trade and economic disputes. WTO is aimed to flow trade smoothly and provide countries with a constructive and fair outlet for dealing with disputes over trade issue. This article considers two institutions named above from the point of view of Russian economic diplomacy and its foreign economic activity.