External Relations: Explaining Economic Diplomacy

Officials of the Ministry of External Relations, during the 15th edition of the Government Action Fair explained the concept of economic diplomacy, supported by the Ministry within the framework of contributing to improving investment in the country and guaranteeing sustainable development. As explained by the panellists, economic diplomacy is the use of governance mechanisms and foreign policy to advance a country's economic interests abroad, such as promoting international trade, attracting foreign investment, and securing supply chains. With the case of the Ministry of External Relations, its mission is implanting the country’s foreign policy set by the President of the Republic. To this effect, the Ministry, amongst its activities, is pursuing the development of an economic diplomacy that can examine opportunities for new engagement notably through foreign engagement. A presentation of the different panellists indicate that the Ministry of External Relations works at developing economic diplomacy in order to broaden the State’s portfolio of partnerships. The National Development Strategy 2020-2030, for example has specifically taken into consideration the mobilisation and important role of the diaspora as a strategic means of encouraging Cameroonians citizens living abroad to invest in key sectors in the country. In brief, economic diplomacy is the use of the State’s diplomatic network...