An evaluation of economic statecraft and its role in advancing national interests: Evidence from trade negotiations in Rivers State
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Background of the Study
Economic statecraft refers to the strategic use of economic tools to achieve national objectives and enhance a country’s global influence. Trade negotiations serve as a primary mechanism through which states exercise economic statecraft by shaping market access, protecting domestic industries, and securing favorable trade terms (Okeke, 2023). In Rivers State, trade negotiations have been instrumental in advancing national interests by promoting export diversification, attracting foreign investment, and integrating the local economy into global value chains. These negotiations involve leveraging diplomatic channels to resolve trade disputes and forge strategic partnerships with international counterparts. However, the effectiveness of economic statecraft is often influenced by factors such as bargaining power, institutional capacity, and geopolitical dynamics (Adebayo, 2024). This study evaluates the role of economic statecraft in advancing national interests through the lens of trade negotiations in Rivers State. It examines how these negotiations contribute to economic growth, the challenges faced by negotiators, and the broader impact on national competitiveness.
Statement of the problem
Despite the strategic potential of economic statecraft, trade negotiations in Rivers State face several obstacles that may limit their effectiveness. Critics argue that insufficient bargaining power, bureaucratic inefficiencies, and external geopolitical pressures can compromise the outcomes of trade negotiations (Chinwe, 2023). These challenges may result in trade agreements that do not fully serve national interests or protect domestic industries. This study seeks to determine whether economic statecraft through trade negotiations truly advances national interests in Rivers State or if systemic challenges hinder its impact. Understanding these dynamics is critical for formulating policies that enhance the effectiveness of economic diplomacy.
Objectives of the Study
To evaluate the role of trade negotiations in advancing national interests in Rivers State.
To identify challenges that impede effective economic statecraft.
To recommend strategies for improving trade negotiation outcomes.
Research questions
How do trade negotiations influence national interests in Rivers State?
What are the main challenges faced during these negotiations?
What measures can enhance the effectiveness of economic statecraft?
Significance of the Study
This study is significant as it explores the strategic use of economic statecraft in trade negotiations and its impact on national interests. Its findings will benefit policymakers, trade negotiators, and economic strategists by highlighting strengths and weaknesses in current practices. The recommendations provided aim to improve the efficacy of trade negotiations, thereby enhancing national competitiveness and economic growth in Rivers State (Okeke, 2023; Adebayo, 2024).
Scope and Limitations of the Study
The study is limited to the evaluation of trade negotiations as an instrument of economic statecraft in Rivers State. It does not cover other aspects of economic diplomacy or regions outside Rivers State.
Definitions of terms
Economic Statecraft: The strategic use of economic tools and policies to advance national objectives.
Trade Negotiations: Discussions between states aimed at reaching mutually beneficial trade agreements.
National Interests: Objectives that are crucial for the economic, political, and social well-being of a nation.
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