Economic diplomacy, in foreign policy has always being present from its origin in time past. It is the basic mechanism of reaching fruitful commercial and economic connections at the double sided and polygonal levels. This is a key tool for the development of effective collaboration between countries and regions at global level. The priority of the economic interests, which are the result of collaboration between the countries, in spite of existing differences between them, caused several of economic development. Effectively they overcome and they will support to the development of sturdy social, political and economic interdependence in the world. In this process the roles of economic diplomacy are irreplaceable. We live during the infinite possibilities. The mastery of all these elements, plant management of small business or our own production here in Malawi can become successful on the global market, especially when we are secured by reliable support, professional and effective economic diplomacy.
Economic diplomacy assumes under itself the diplomatic official actions, concentrated on an increase in the export, the attraction of foreign investments and participation in the work of foreign economic organizations, that is, the actions, focused during the confirmation of the economic interests of Malawi at the international level. To what extent does information on the true role of economic diplomacy on international interrelations, its working methods, ways, means, the final analysis, and the effects, achieved by the mobilization of its possibilities? The answer to this question depends mainly on combination of academic credentials, creativity and expertise of the current High Commissioners, Ambassador’s and other Foreign Service officers representing Malawi’s interests abroad. Generally, the role of the economic relationships of business, trade, finances and information technology, in relation to the context of globalization (exchange, production, markets, financial flows), in this ever more interconnected world, and by the formulation of the basic problems before the diplomatic services, rapidly and adequately react to the changes in the world community. The realization of its position in this question dictates the appropriate development of economic diplomacy and its role in the structure of state administration within Malawi.
The concept of Economic diplomacy is very broad in today’s life. Because of what this scientific direction is deprived features of inherent in it, boundaries become washed away, that pass into the object of economic, political, diplomatic, strategic or other disciplines of international relations and foreign policy. Attempts at the determination of economic diplomacy were undertaken recently by many foreign researchers. Some of them see it the scientific direction, which studies the complexities of commercial, economic relations and diplomacy while also interacting between themselves and having an effect on the foreign economic policy states.
Commercial activity has always been an area of importance in diplomatic servicing, while its means, methods and purposes determined the actual moment of history. Several decades ago, commercial activity estimated as the actions of the so-called political diplomacy. Professional diplomats, who work in the sphere of strictly political intergovernmental interrelations, had higher level and perfect reputation in comparison with the commercial of attaché as argued by Bayen, N. and Woolcock, S. Similarly, Malawi has to be represented by creative and highly trained individuals of good repute at its diplomatic missions if we are to realise the gains international community is offering.
The clear example of economic diplomacy in the individual country has its effect on the development of global world economy and realization of its political interests. It is possible to trace based on the example of Rwanda, how it emerged from the 1994 genocide and utilised economic diplomacy to its advantage, all the way to sports diplomacy by partnering with one of the top football teams in English Premier League, this has been Rwanda’s strategy in rebranding itself using economic and public diplomacy at international level. Another example is the USA that Washington DC determines the fates of peace, the domestic and external policy of many tens of countries by means of the International Monetary Fund, the World Bank, and other number of organizations, and also determines the programs of financial aid. The economic diplomacy of the USA had a significant effect on the creation of the American transatlantic association and global economy. The realization of the economic diplomacy in the USA contributes the financial and economic power in the country and creates within the Washington DC, global economic system and the special role of the American currency. Recently, an improvement in the commercial and economic interrelationship of states is located in the very center of diplomatic actions. The basic reasons for the interest of diplomacy in its historical economic roots are based on the realization of economic reforms on the processes of orientation in the market economy of developing countries like Malawi. It is based on strengthening of exports, contributes to the more rapid integration of state into the world global economy.
