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THE ROLE OF INTERNATIONAL ECONOMIC ORGANIZATIONS IN PROMOTING TRADE: A CASE STUDY OF ROMANIA
Abstract
The objective of a countrys economic diplomacy is to gather all foreign policy instruments and to consequently implement them successfully, in order to advance the economic interests of the country itself. Therefore, economic diplomacy must be ensured by an efficient framework for institutional cooperation which is aimed at furthering a countrys economic interests abroad. The cooperation with international organizations, mainly economic organizations such as World Trade Organization and Organization for Economic Cooperation and Development, represents a main component of the economic diplomacy of a country as a whole. The paper gives an overview of the main international economic organizations to which Romania is part whilst analyzing in depth the effects of these actions in the countrys trade. The overall objective of the findings is to accentuate the correlation between efforts made by public institutions and international actors and concrete results in consolidating Romanias external profile. As a result, several recommendations have been formulated emphasizing the role of the selected international organizations in stimulating the countrys trade.
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