An economic diplomacy strategy for Malta

Abstract

This thesis discusses how best to achieve "An economic diplomacy strategy for Malta". Being a very small island and one which has a very open economy, Malta faces major challenges when trying to attain greater visibility abroad and in acquiring credibility so as to be successful in the attraction of foreign direct investment and in engaging into business with countries worldwide including new and emerging economies. In today's era, the concept of economic diplomacy is pivotal and is becoming increasingly important not only for the country's economic performance on a domestic level but also for its development internationally in a globalized world. This task does not exclusively fall within the remit and responsibility of the Ministry of Foreign Affairs and is not to be undertaken solely by the Ministry. This thesis thus examines the role of the Ministry of Foreign Affairs with other government agencies such as Malta Enterprise and other private sector agencies which shall be mentioned briefly in economic diplomacy. Despite that certain Ministries and institutions from the public and private sector are already involved in determining Malta's economic diplomacy strategy, it is clear that this process is an ongoing one and that needs to develop constantly. Thus the objective of this thesis is to provide an analysis of the role of the Ministry of Foreign Affairs and its collaboration with Malta Enterprise and other local entities related to trade, investment and finance.