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World Academy of Economic Diplomacy: A New, Great Initiative to Boost Global Trade

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On December 19th, 2022, the European Federation of Bilateral Chambers of Commerce announced the launch of a new project that has the potential to revolutionize the world of trade diplomacy. The World Academy of Economic Diplomacy is an international non-governmental organization (NGO) that will provide advanced specialized training to young trade diplomats from developing countries. The project is led by Project Director, Marian Ovidiu Stanica and is currently in the start-up stage, with an estimated launch date in the next 10-12 months. The need for such an initiative is clear. The world of trade is becoming increasingly complex, and it can be challenging for developing countries to compete with the economic resources and political clout of developed countries. Trade diplomacy involves negotiating trade agreements, accessing new markets, and promoting goods and services abroad, and it requires a high level of skill and expertise. Unfortunately, many young trade diplomats from developing countries lack the training and experience necessary to be effective in this field.

The World Academy of Economic Diplomacy aims to address this gap by providing young trade diplomats with the training and mentorship they need to succeed. The project will offer a range of courses and workshops on topics such as trade negotiations, market analysis, and cultural awareness. It will also provide opportunities for young diplomats to gain practical experience by working on real-world trade projects.

The project’s focus for the first three years will be on training young trade diplomats from Albania, Armenia, Azerbaijan, Bosnia and Herzegovina, Georgia, Kosovo, Moldova, Romania, and Ukraine. These countries were selected based on their level of economic development and their potential for growth in the global marketplace. However, the hope is that the project will eventually expand to include young diplomats from other developing countries as well.

The World Academy of Economic Diplomacy is not the first initiative of its kind. There are already a number of organizations that provide training and support to young trade diplomats, such as the International Trade Centre (ITC) and the World Trade Organization (WTO). However, the World Academy of Economic Diplomacy is unique, in that it is specifically focused on providing advanced specialized training to young trade diplomats from developing countries.

The project has already received widespread support from a range of organizations and individuals. The European Federation of Bilateral Chambers of Commerce has committed to providing funding and resources to the project, and a number of other organizations have expressed interest in partnering with the World Academy of Economic Diplomacy. In addition, a number of prominent trade diplomats and experts have expressed their support for the project. The NGO aims for the following international personalities to be part of their academic lectures: Cristian Diaconescu, former minister of foreign affairs, Ban Ki-moon – former UN Secretary General, José Manuel Durão Barroso – former President of the European Commission,Herman Van Rompuy – former President of European Council, Romano Prodi – former President of the European Commission, Felipe Calderón – former President of Mexico, John Bercow – former Speaker of the UK House of Commons, Edmund Phelps – Nobel Prize winner for Economics, John Burton – former Prime Minister of Ireland and Mariano Rajoy – former Prime Minister of Spain. Extensive talks will be carried out with them in the following months, to reach an agreement for their involvement and participation.

The World Academy of Economic Diplomacy has the potential to make a real difference in the world of trade. By providing young trade diplomats from developing countries with the training and support they need to be effective, the project can help to promote economic development. It can also help to foster greater cooperation and understanding between developed and developing countries, which is crucial for building a more diverse and representative global trade system.

In addition, the project can help to address some of the key challenges facing the global trade system today, such as protectionism, trade tensions, and the rise of new economic powers. By equipping young trade diplomats with the skills and knowledge they need to navigate these challenges, the project can help to promote greater stability and sustainability in the global economy.

To ensure the success of the World Academy of Economic Diplomacy, it will be important to develop a clear and effective training program that meets the specific needs of young trade diplomats from developing countries. This program will be developed in consultation with a range of individuals, including young trade diplomats themselves, trade experts, and representatives from governments and international organizations. In addition, the project will require ongoing collaboration with a range of stakeholders, including governments, private sector partners, and civil society organizations.

Overall, the World Academy of Economic Diplomacy is a promising new initiative that has the potential to make a real difference in the world of trade. With the right support and collaboration, the World Academy of Economic Diplomacy can help to build a more diverse, representative, and sustainable global trade system for the future.

By Ioana Constantin

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