An Examination Of The Role Of Economic Diplomacy In Regional Integration: A Case Study Of Ghana-Ecowas Relations

Abstract

West African economic diplomacy is essentially development diplomacy aimed at enhancing the quality of life for its population. However, efforts to maximize the benefits of bilateral and multilateral economic diplomacy and regional integration for member nations' socioeconomic liberalization are hampered by several obstacles. As a result, the research is directed by the objectives of identifying the scope and practice of economic diplomacy, its impact, and the problems of regional economic integration within ECOWAS. This qualitative study was supported by the theoretical framework of New Functionalism Theory, which relied on ten key informants for theme analysis of data obtained by interview guide administration. According to the findings, Ghana's economic diplomacy is a tool for market integration and regional trade liberalization, which underpins commercial diplomacy management, trade diplomacy management, and financial diplomacy management. Also, the impacts of economic integration tools resulted in trade enhancement, fosters market development and growth, facilitates the creation of employment, transit goods and logistics service management, and revenue mobilization. The key challenges for the regional body are efforts stifled by a new conflict of scramble for its resources by the developed nations; failure to implement the Trade Liberalization Scheme; failure to meet the primary convergence criteria that will set the stage for the establishment of the common currency, ECO; and pockets of corruption and military coups that have destabilized peace, among others. The study advocated the establishment of institutional and legal provisions to support economic diplomacy and integration partnership agreement implementation, the promotion of more political-dedicated regimes in collective economic protocol implantation, and the consistent honoring of financial obligations, separate from the new scramble for regional integration prospects.