REGULATORY AND LEGAL BASES OF ECONOMIC DIPLOMACY: CURRENT STATE AND PROBLEMS OF DEVELOPMENT

Abstract

The article examines the regulatory and legal system that ensures
economic diplomacy in the context of profound changes in world politics and the
economy. The importance of the topic is determined by increased protectionism,
sanctions pressure and the growing need for states to legally protect their
economic interests outside the country. Economic diplomacy is interpreted as
a component of foreign policy focused on supporting foreign trade, attracting
investment, developing technological cooperation and promoting financial and
economic priorities. At the same time, its implementation is based on a multi-layered set of sources: international treaties, norms of diplomatic law, trade
agreements, investment and legal regimes, as well as national strategies and legal
acts.
The article is aimed at analyzing the regulatory and legal foundations
of economic diplomacy (using the example of major powers) as an
interdisciplinary phenomenon of international relations. The purpose of the
study is to identify and systematize the key regulatory elements that form
the legal infrastructure of economic diplomacy. It is shown that economic
diplomacy has a “hybrid” nature and is formed at the junction of diplomacy,
economics, international law, international relations and domestic regulation.
The conclusion is made about the increasing importance of contractual
mechanisms that regulate trade and economic relations, investment activities
and the role of national strategic documents in the modern development of
economic diplomacy.

Funding: This research was funded by the Science Committee of the
Ministry of Science and Higher Education of the Republic of Kazakhstan
(Grant No. AP23490344, ‘The Trend of Economization of International
Relations and the Economic Diplomacy of New Kazakhstan’).