<abstract xmlns="http://www.w3.org/1999/xhtml"><p>The paper analyses the challenges of modern commercial diplomacy (CD), which became more relevant than it was in the pre crisis period. In this context, the authors analyzed the chronology of implementation of CD in Serbia, scope and efficiency of its activities, and the areas for improvement. Some of their findings, related to the efficiency and challenges in CDs activities, are based on the questionnaire conducted among 25 Serbian CDs. The paper concludes that in order to increase the efficiency of commercial diplomacy, coordination of the activities of the responsible institutions should be improved, to avoid overlapping in their work and to rationalize use of limited resources. However, the authors emphasised that the space for contribution of commercial diplomacy to the increase of export and FDI is insufficient, due to limited export potential and poor investment climate in Serbia. The authors conclude that in order to increase the efficiency of commercial diplomacy in export promotion area, it is important to implement the necessary reforms, which will result in the restructuring of Serbian economy, make it more competitive and export oriented. To increase the inflow of FDI to Serbia, it is necessary to create a business friendly investment climate.</p></abstract>

The paper analyses the challenges of modern commercial diplomacy (CD), which became more relevant than it was in the pre crisis period. In this context, the authors analyzed the chronology of implementation of CD in Serbia, scope and efficiency of its activities, and the areas for improvement. Some of their findings, related to the efficiency and challenges in CDs activities, are based on the questionnaire conducted among 25 Serbian CDs. The paper concludes that in order to increase the efficiency of commercial diplomacy, coordination of the activities of the responsible institutions should be improved, to avoid overlapping in their work and to rationalize use of limited resources. However, the authors emphasised that the space for contribution of commercial diplomacy to the increase of export and FDI is insufficient, due to limited export potential and poor investment climate in Serbia. The authors conclude that in order to increase the efficiency of commercial diplomacy in export promotion area, it is important to implement the necessary reforms, which will result in the restructuring of Serbian economy, make it more competitive and export oriented. To increase the inflow of FDI to Serbia, it is necessary to create a business friendly investment climate.

Commercial Diplomacy In Serbia: Characteristics And Areas For Improvement

Institute of Economic Sciences, Belgrade, Serbia

Faculty of Social Sciences, University of Ljubljana, Slovenia

Economic Themes

This chapter is distributed under the terms of the Creative Commons Attribution 4.0 Public License.

EKONOMSKA DIPLOMATIJA U SRBIJI: KARAKTERISTIKE I MOGUĆNOSTI ZA UNAPREĐENJE

The paper analyses the challenges of modern commercial diplomacy (CD), which became more relevant than it was in the pre crisis period. In this context, the...

Commercial Diplomacy In Serbia: Characteristics And Areas For Improvement

Published Online: Oct 14, 2015

Page range: 263 - 280

Received: Aug 29, 2014

Accepted: Oct 24, 2014

DOI: https://doi.org/10.1515/ethemes-2014-0017

Keywords
commercial diplomacy, export promotion, FDI, economic crisis, Serbia

© 2014 Slavica Penev et al., published by De Gruyter Open

This chapter is distributed under the terms of the Creative Commons Attribution 4.0 Public License.

Commercial Diplomacy In Serbia: Characteristics And Areas For Improvement

Published Online: Oct 14, 2015

Page range: 263 - 280

Received: Aug 29, 2014

Accepted: Oct 24, 2014

DOI: https://doi.org/10.1515/ethemes-2014-0017

Keywordscommercial diplomacy, export promotion, FDI, economic crisis, Serbia

© 2014 Slavica Penev et al., published by De Gruyter Open

This chapter is distributed under the terms of the Creative Commons Attribution 4.0 Public License.

Keywords
commercial diplomacy, export promotion, FDI, economic crisis, Serbia