Test

Representational image. The conventional approach to diplomacy had been eclipsed by economic diplomacy . With the emergence of a more integrated global society, it picked up steam. Given Nepal’s aspirations for economic development and international participation, it has evolved into one of the tools for achieving national goals. Governments often engage in economic diplomacy through diplomatic channels, trade promotion organisations, and economic ministries. To accomplish shared economic objectives, it also entails working with non-state entities including multinational corporations, industry associations, think tanks, and civil society organisations. However, the question is how concerned Nepal is about economic diplomacy or is it a mere fanfare idea for Nepal. Failure to implement economic diplomacy Nepal started a phase of economic liberalisation and market-oriented reforms in the 1990s. During this time, the economy was opened up more, foreign investment was attracted, and a...