Innovation in Economic Diplomacy: Accelerating the Republic of Moldova’s European Integration

Abstract

This article aims to clarify the issue of using innovation in the economic diplomacy of the Republic of Moldova and its role in the country's integration process into the European Union. The author's hypothesis is that the use of innovative tools in economic diplomacy would have a direct effect on accelerating the country's European integration process. The article explains the concept of economic diplomacy, emphasizing the fact that for the Republic of Moldova, economic diplomacy is becoming an indispensable tool, with the help of which the country's economic interests are promoted. Economic diplomacy has the role of creating a positive image of Moldovan products abroad, thus stimulating exports, creating a favorable image of the economic and political climate, thus favoring the attraction of foreign investments and, last but not least, facilitating cooperation with European organizations and institutions. At the same time, the article clarifies the notion of innovation, emphasizing that it represents a set of activities through which new ideas are generated, developed and implemented, being dynamic, continuous and including stages such as research, experimentation, testing and application. Some innovative tools that could be used in the economic diplomacy of the Republic of Moldova are also proposed. Bibliographic analysis is used as a research methodology, as well as foreign policy documents provided by the Ministry of Foreign Affairs and European Integration of the Republic of Moldova. UDC: 005.591.6:[327:339.9](478); JEL: F50, O30, O19