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Economic diplomacy is a form of diplomacy that uses the full spectrum of economic tools of a state to achieve its national interests. [1] The scope of economic diplomacy can encompass all of the international economic activities of a state, including, but not limited to, policy decisions designed to influence exports, imports, investments, lending, aid, free trade agreements, among others.
The United Nations Economic Commission for Africa (UNECA or ECA; French: Commission économique pour l'Afrique, [2] CEA) was established in 1958 by the United Nations Economic and Social Council to encourage economic cooperation among its member states (the nations of the African continent) [3] following a recommendation of the United Nations General Assembly. [4]
Since independence, with Jaja Wachuku as the first Minister for Foreign Affairs and Commonwealth Relations, later called External Affairs, Nigerian foreign policy has been characterised by a focus on Africa as a regional power and by attachment to several fundamental principles: African unity and independence; capability to exercise hegemonic influence in the region: peaceful settlement of ...
The United States provides a growing amount of economic aid to the country. Senegal has received aid for democracy promotion, food security, and development projects like $1.5 million in aid for solar energy and nano-loan financing systems. [16] Health diplomacy is another sector of aid that the United States and Senegal collaborate on.
The African Economic Community (AEC) is an organization of African Union states establishing grounds for mutual economic development among the majority of African states. [1] The stated goals of the organization include the creation of free trade areas , customs unions , a single market , a central bank , and a common currency (see African ...
China and India are increasingly important trade partners; 12.5% of Africa's exports are to China, and 4% are to India, which accounts for 5% of China's imports and 8% of India's. The Group of Five (Indonesia, Malaysia, Saudi Arabia, Thailand, and the United Arab Emirates) are another increasingly important market for Africa's exports. [74]
Tanzania's first president, Julius Nyerere also was one of the founding members of the Non-Aligned Movement, and, during the Cold War era, Tanzania played an important role in regional and international organisations, such as the Non-Aligned Movement, the front-line states, the G-77, and the Organisation of African Unity (OAU) (now the African Union).
Despite these tensions, Jammeh's government engaged in regional diplomacy within West Africa, maintaining membership in the Economic Community of West African States (ECOWAS), though relations with neighboring Senegal were often tense due to border disputes and differing political stances.