In response to dynamic global scenario the national priorities world over are being redefined. Protection and enhancement of commercial interests has become one of the most important policy objectives. Emergence of global trading systems such as World Trade Organisation and other regional agreements has opened up new avenues of opportunities, also posing new challenges. Similarly, attracting foreign investment is an important priority.
As result of that the scope and role of diplomacy too is undergoing a major shift and commercial interests are increasingly determining political relationship amongst nations. The role of foreign missions needs to get realigned with the new priorities.
However, matching with expectations on these fronts would require the related officials in governments to pursue Commercial Diplomacy effectively. Particularly in developing countries the officials/diplomats are increasingly realising a dire need to get training inputs on commercial aspects of diplomacy. It has been observed that negotiating capacity of developing country representatives often fall short of that of their counterparts from developed countries. One of the reasons for that is lack of training on commercial aspects of diplomacy, which also include negotiation skills.
Individuals’ capacity to negotiate is one of the crucial determinants of outcomes. Stakes in trade/investment negotiations often being very high, the official concerned in government and businesses both realise the importance of getting trained on carryout negotiations more effectively. This might facilitate reaching to win-win solutions and avoid possible pitfalls that might occur while implementation. Drafting an effective and foolproof agreement/resolution is another important aspect.
Considering the stated facts and realising the vacuum that exists in terms of absence of institutional base in developing countries to offer training/education on commercial diplomacy and related aspects, CUTS has launched short-term training and education (certificate) programmes on the subject. The courses to be launched shortly, would cover both trade and investment aspects of Commercial Diplomacy. As a future initiative, it will launch diploma/degree programmes too on the subject.
CUTS has joined hands with Institute for Trade & Commercial Diplomacy (ITCD), Washington to work together in providing training and education (certificate) programmes.