An evaluation of economic diplomacy and its influence on national competitiveness: Evidence from trade missions in Lagos State
- Project Research
- 1-5 Chapters
- Abstract : Available
- Table of Content: Available
- Reference Style:
- Recommended for :
- NGN 5000
Background of the Study
Economic diplomacy, the use of diplomatic channels to promote national economic interests, is increasingly recognized as a catalyst for enhancing national competitiveness. In Lagos State, trade missions have become a critical tool for economic diplomacy, facilitating market access, attracting foreign investment, and promoting indigenous industries (Chinwe, 2023). These missions provide opportunities for bilateral and multilateral negotiations that can lead to trade agreements, joint ventures, and technology transfer. By showcasing national products and innovation, trade missions help to build international networks and improve a nation’s global economic standing. Recent empirical studies suggest that targeted economic diplomacy initiatives can yield significant benefits in terms of export growth, job creation, and overall economic development (Okeke, 2024). However, the effectiveness of these initiatives depends on several factors including strategic planning, diplomatic skill, and the ability to respond to dynamic global market conditions. This study examines the role of economic diplomacy in enhancing national competitiveness, using trade missions in Lagos State as a case study. It evaluates how these missions contribute to economic growth and competitiveness while identifying challenges that may impede their success.
Statement of the problem
Despite the recognized potential of economic diplomacy, trade missions in Lagos State often face challenges that limit their impact on national competitiveness. Issues such as inadequate preparation, limited follow-up mechanisms, and inconsistent messaging hinder the ability of these missions to secure lasting trade partnerships (Uche, 2023). Additionally, competition from other global players can diminish the perceived value of national offerings. This study seeks to investigate whether current trade missions effectively enhance national competitiveness or if strategic improvements are needed to maximize their benefits (Okeke, 2024).
Objectives of the Study
To evaluate the impact of trade missions on national competitiveness in Lagos State.
To identify challenges in implementing effective economic diplomacy.
To recommend strategies to enhance the outcomes of trade missions.
Research questions
How do trade missions influence national competitiveness in Lagos State?
What challenges hinder the effectiveness of economic diplomacy in trade missions?
What strategies can improve the impact of trade missions on economic growth?
Significance of the Study
This study is significant as it provides a critical evaluation of economic diplomacy through trade missions, offering insights that will help policymakers and trade officials optimize such initiatives. The findings will contribute to enhancing national competitiveness by highlighting best practices and identifying key obstacles. By proposing actionable recommendations, the study aims to improve economic diplomacy outcomes and foster sustainable economic development in Lagos State (Chinwe, 2023; Okeke, 2024).
Scope and Limitations of the Study
The study is limited to examining trade missions in Lagos State as a form of economic diplomacy and does not extend to other diplomatic or economic initiatives.
Definitions of terms
Economic Diplomacy: The use of diplomatic channels to promote national economic interests.
Trade Missions: Delegations sent to foreign markets to promote trade and investment.
National Competitiveness: The ability of a nation to compete effectively in the global market.
Related Project Materials
FACTORS ASSOCIATED WITH MASS FAILURE OF STUDENT IN ENGLISH LANGUAGE IN SECONDARY SCHOOLS (CASE STUDY OF NSUKKA LGA)
ABSTRACT
This study was on the factors associated with mass failure of students in the
DESIGN AND IMPLEMENTATION OF AN ONLINE HOTEL RESERVATION SYSTEM WITH PAYMENT INTEGRATION
Abstract
This study aims to develop and design an Online Hotel reservation and management system for a Hotel, as the case study is t...
An Investigation of Nurses’ Preparedness in Handling Respiratory Emergencies in Intensive Care Units in Benue State Hospitals
Background of the Study
Respiratory emergencies, including acute respiratory failure, asthma attacks, a...
An Examination of the Role of Telemedicine in Enhancing Healthcare Delivery in Nigeria
Background of the Study
Telemedicine, the remote diagnosis and treatment of patients through telecommunications technology...
An inquiry into mobile marketing innovations on consumer acquisition: A study of a retail mobile app in Lagos, Nigeria
Background of the study
Mobile marketing innovations have become increasingly vital in acquiring new consumers in the fa...
An assessment of the effectiveness of local government environmental policies in Jega Local Government Area, Kebbi State
Chapter One: Introduction
An appraisal of customer relationship management strategies and business growth: A study of insurance firms in Zamfara State.
Background of the Study: Customer Relationship Management (CRM) refers to the practices, strategies, and technologies used by businesses to manage...
An evaluation of nurses’ knowledge and practice in managing peritoneal dialysis complications in Kaduna State healthcare facilities
Background of the Study
Peritoneal dialysis (PD) is a widely used renal replacement therapy for patient...
The Impact of Informal Sector Taxation on Revenue Generation in Konduga LGA
Background of the Study
The informal sector plays a crucial role in the economy of Konduga LGA, contributing significantly...
THE IMPACT OF TEAMWORK ON ORGANIZATIONAL PRODUCTIVITY
ABSTRACT
The extended Study reviews the impact of teamwork on organizational productivity using the Nigerian Postal Serv...
