Economic diplomacy crucial in Africa’s
 

Focus on economic diplomacy and South-South co-operation among African countries is crucial for the continent’s second emancipation, the Angolan Ambassador to Tanzania, Brito Sozinho, said yesterday.

Ambassador Sozinho made the remarks during talks with the IPP Executive Chairman, Reginald Mengi, in Dar es Salaam. He said the end of political liberation struggles requires that, “our diplomacy should change to focus on the economic field.”

The Angolan envoy also said African countries should feel proud of having local investors who have the spirit of contributing to the continent’s economic development.

Speaking about Angola, Ambassador Sozinho said his embassy was ready to invite a group of Tanzanian businesspersons to visit his country “to see what they can do to invest in Angola.”
“With globalisation we need to work closely economically, especially under the South-South Cupertino framework,” he said.

He presented Mengi with a copy of a book that detail what Angola can offer in terms of resources and investment potentials.

Speaking of the historical relations between Tanzania and Angola, Ambassador Sozinho showered praise on the former country’s contribution to liberation struggles in the latter and the whole of Africa.

“Many Angolans were here during the liberation struggles where they were undertaking military training…Before my appointment as ambassador to Tanzania, I was here. I received military training in Kongwa (Dodoma),” he said.

Responding, Mengi said it was time for African countries to focus more on economic development instead of singing the same song of liberation “if poverty is to be tackled.”
“Delay to shift focus from political to economic liberation in Africa will continue to make us poor,” he said.

He said Tanzania was lucky to have President Benjamin Mkapa with a sound economic vision that has been changing the nation for the better.
Mengi also urged African countries to open up opportunities to fellow Africans in order to ensure sustainable peace in the continent.

“The sons and daughters of this continent must feel they are legitimate owners of their economies. There must be an enabling environment to exploit the available economic potentials,” he remarked.

However, he criticised commercial banks for being a setback to Africa’s development because of the stringent conditions they impose in availing credit.
“Claims of lack of collateral are just excuses…Some of the banks practices in Africa are different from what most of them do in Europe…The role of banks in Africa must be revisited,” he observed.

The IPP Executive Chairman also said no economy in the world that operates without being regulated; hence for a country to run her affairs, “setting up institutions and regulations is crucial.”

“Some countries that call for free market economy are very regulated in their homes. They need to allow African countries to put in place institutions and regulations,” he noted.

He also urged Africans who have stashed away their money from the continent to come back and invest in the continent’s development.
The First Secretary, Vicente Mwanda, and Press Attache’ Rui Vasco accompanied the envoy to the IPP headquarters.

Angola gained its independence from Portugal in 1975 after fierce armed struggles. For over 25 years it was characterised by internal war with the UNITA fighters under Jonas Savimbi who was killed three years ago. It is one of the major oil producing countries in Africa and highly resourceful in gemstones and miberals.

 SOURCE: Guardian

 Economic diplomacy and present-day int’l relations

Economic diplomacy is not a new concept. The United States and many western countries have long pursued economic interests, considering them a top target in their external policies.

The terminology economic diplomacy was initiated and documented by Japan after the second World War. It was thought that in the closed international environment of a tense confrontation of the two-pole world of the Cold War, economic diplomacy was considered the most effective measure to promote international exchange. In addition, after the Second World War, Japan was bound to international regulations that restricted its political and military capabilities. Knowing this, Japan directed every effort and energy to develop its economy so as to regain prestige and image.

In recent years, alongside strong development of globalisation and tough economic competition, many countries have considered economic diplomacy as key to opening up to the world. Economic diplomacy includes policies of granting and receiving aid, and attracting foreign investment. Through such activities, economic diplomacy can also impact on the law-making process, monetary policies and import-export and investment activities of other countries, in order to bring about indirect economic benefits, such as creating a better business environment for investors and beneficial correlation of the exchange rate.

In fact, some powerful countries have put diplomatic pressure on other countries to achieve this target. In the early 1980s, the United States forced Western Europe and Japan to adjust their exchange rates against US dollar. As a result, US commodities became cheaper and had a better competitive edge in the world market.

Currently, China is facing similar pressure on its currency, Yuan, yet no result has been reported so far.

Like security diplomacy, and cultural diplomacy, the application of the concept economic diplomacy focuses on external activities to serve economic development. The application of the three elements depends on each country and its specific circumstance. Sometimes security diplomacy is given top priority. Sometimes cultural diplomacy is considered an effective way to expand relations with other countries. Economic diplomacy is carried out in peaceful times, with economic development considered a central task.

Developing countries soon tapped economic diplomacy and maintained this trend.

Former US President Bill Clinton stated when he was sworn in that he had responsibility to promote US commodities throughout the world. About one fifth of British diplomats working abroad are economists. The Airbus Group has signed a contract to sell its aircraft to China after French President Jacque Chirac himself made a tour of China and held talks with Chinese leaders. To emphasize the economic role in external policies, the Republic of Korea and many other countries have merged their Ministry of Foreign Affairs and the Ministry of Trade into one body. They also requested all diplomatic staff to work as marketing personnel for commodities.

Meanwhile, economic diplomacy is considered a leading tool for underdeveloped countries. Malta Finance and Commerce Minister, Leo Brincat, said in his country diplomats should play a vital role in promoting business opportunities. They must be aware of economic issues in other countries so that they can provide consultation and correct information for domestic businesses to expand operations.

SOURCE: www.vov.org

Former Intel Veteran Launches Global Technologies & Innovation Corporation

 former Intel Corporation veteran today announced the launch of a company to create strategic partnerships to promote economic development by deploying technology innovation in the US, Latin America, and Asia.

The Global Technologies & Innovation Corporation is working with economic development agencies and technology corporations to initiate mutually beneficial relationships.

"Our company is based on a simple premise: that technology innovation helps create more economic opportunity," said Francisco De Ycaza, Chairman and President of Global Technologies & Innovation. "We are helping technology corporations put their innovations into the hands of people in developing countries, where the need is great."

Mr. De Ycaza, a native of Panama who has studied and worked in the United States for the last 11 years, previously served as Intellectual Property and Design Reuse Program Manager for Intel Corporation in Folsom, Calif.

While at Intel, Mr. De Ycaza was a partner of the Innovations Group, where he facilitated innovative convergence of computing and communications through the development and deployment of intellectual property reuse programs for Application Specific Integrated Circuits semiconductors.

At Intel, Mr. De Ycaza contributed to decreasing the development time of 10 chipsets and processors across three business groups. Mr. De Ycaza facilitated Intel's Business Communication processes during 2003 as Co-Chair of the CommNet group.

Prior to joining Intel, Mr. De Ycaza worked at Applied Test Resources as a Hardware Design Engineer developing analog and mixed-signal tester motherboards and FPGA systems and at VLSI Technology, Inc., where he worked as a Research Specialist working on a laptop computer designs and computing peripherals and cards. He also worked at SensaDyne Instruments designing electronic systems and managing the company's e-commerce website infrastructure.

Mr. De Ycaza is affiliated with the IEEE, CANDE Technical Committee, VHDL Synthesis Interoperability Working Group (IEEE PAR 1076.6), Stanford University Center for Integrated Systems, Institute of Nanotechnology, the US Institute of Peace (Virtual Diplomacy Discussion), the US-Panama Business Council, the World Affairs Council of San Francisco, and the Commonwealth Club of California. He holds a bachelor's in engineering from Arizona State University and has completed some graduate work at Stanford University through the Stanford Center for Professional Development.

In addition to creating strategic partnerships between corporations and economic development agencies, Global Technologies & Innovation also is working with investors seeking opportunities in Central America, the Caribbean Basin, Eastern Asia, and in the United States.

"This is an exciting time in technology and in Central America," Mr. De Ycaza said. "There are significant economic opportunities for technology companies to find excellent business opportunities and to contribute to the development of under-developed economies."

SOURCE: home.businesswire.com

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