What is Commercial Diplomacy?
Commercial Diplomacy is diplomacy with a commercial twist – diplomacy designed to influence foreign government policy and regulatory decisions that affect global trade and investment. In the past Commercial Diplomacy concerned itself largely with negotiations over tariffs and quotas on imports. In today’s more interdependent world, trade negotiations cover a much wider range of government regulations and actions that affect international commerce – including standards in areas such as health, safety, environment, and consumer protection; regulations covering services such as banking, telecommunications and accounting; competition policy and laws concerning bribery and corruption, agricultural support programs; and industrial subsidies. Commercial Diplomacy encompasses the whole analysis, advocacy, and negotiating chain that leads to international agreements on these trade-related issues. In the highly interdependent world we live in today, the policy issues subject to trade negotiation
