Organization and Functioning of Economic Diplomacy: Exploring the Impact of Economic Aid as a Tool of Economic Diplomacy

Emilio Çika – Mediterranean University of Albania, Faculty of Political Science and International Relations, Blv. Gjergj Fishta 52, Zip Code 1001, Tirana, Albania

Abstract: Depending on the goals it seeks to accomplish, economic diplomacy in the modern, globalized world has access to a wide range of methods. Even though they are diverse, their nature and traits allow for the primary division of two sizable groups. International relations analysis is made easier by the classification of economic diplomacy instruments, which is more for academic and instructional purposes than for practical use. This paper aims to study how foreign economic aid is a tool widely used in international relations. Economic aid is institutionalized in the global econ- omy, often to certify “good behavior”. Foreign economic aid is a very complex issue in international relations. The case of aid packages to Ukraine during its conflict with Russia highlights their importance but also raises questions about their effectiveness. Nevertheless, economic aid is considered one of the most important tools of economic diplomacy, primarily when directed towards poor and developing countries to strengthen economic structures, reinforce democratic institutions, consolidate the rule of law, reduce corruption, etc.

10th International Scientific Conference ERAZ 2024 – Conference Proceedings: KNOWLEDGE BASED SUSTAINABLE DEVELOPMENT,  hybrid – online, virtually and in person, Lisbon, Portugal, June 6, 2024

ERAZ Conference Proceedings published by: Association of Economists and Managers of the Balkans – Belgrade, Serbia

ERAZ conference partners: Faculty of Logistics, University of Maribor, Maribor (Slovenia); University of National and World Economy – UNWE, Sofia (Bulgaria); Center for Political Research and Documentation (KEPET), Research Laboratory of the Department of Political Science of University of Crete (Greece); Institute of Public Finance – Zagreb (Croatia); Faculty of Tourism and Hospitality Ohrid, University of St. Kliment Ohridski from Bitola (North Macedonia)

ERAZ Conference 2024 Conference Proceedings: ISBN 978-86-80194-86-8, ISSN 2683-5568,

DOI: https://doi.org/10.31410/ERAZ.2024

Creative Commons Non Commercial CC BY-NC: This article is distributed under the terms of the Creative Commons Attribution-Non-Commercial 4.0 License (https://creativecommons.org/licenses/by-nc/4.0/) which permits non-commercial use, reproduction and distribution of the work without further permission. 

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