Mrs Sujeewa Nishanthi Kulatilake1
1(i) University Of Colombo Sri Lanka (ii) Jiangxi University Of Science And Technology China, Tucson, United States
This paper explores the impact of economic diplomacy on Australia-Asia relations. Resolving economic issues in international relations has become an integral part of diplomatic theory and practice. Improved globalization and trade liberalization caused domestic and foreign market competition becomes more aggressive and intense. Therefore, countries which have not involved in the concept of economic diplomacy will not have an active role in relations with other countries. The economic diplomacy means diplomatic activities directed towards improving and protecting the economic interests of a country. Therefore, the concept of economic diplomacy should ensure that the activities of economic diplomacy are efficient and successful. As an independent nation, Australia’s relations with its Asian neighbours have been of immense significance since it is the most dynamic growth centre in the global economy. Australia has much to offer Asia in the development of bilateral relations and multilateral engagements. This paper will further discuss on why countries engage in economic diplomacy, why there is a need of the efficient concept of economic diplomacy to strengthen Australia- Asia relations, what measures need to be taken for this concept to be more effective and the challenges on achieving successful economic development through this relation.
Highly experienced professional with consistent achievements through expertise in international business, business administration, public relations, credit and marketing in the banking and finance industry. At present pursuing a PhD in Economics at the University of Colombo, Sri Lanka. Completed double masters (MBA & MSc) in London, UK (University of Wales Institute Cardiff)