Economic Diplomacy Boosts Development

Diplomacy is an act of pursuing national interest through well-accepted means of tact and intelligence. Economic diplomacy (ED) has become an important component of foreign policy of any nation to promote economic interest vis-a-vis other states and international organisations. International relations today are largely shaped by trade, investment, tourism, technology transfer and so on. Following the economic liberalisation in the 1990s, Nepal adopted economic diplomacy as a major instrument of global engagement by mainstreaming it into foreign policy domain.