Abstract:
In this study, the use of business forums in stakeholder collaboration to enhance commercial diplomacy effectiveness is examined. According to some scholars, commercial diplomacy is a component of economic diplomacy that focuses more on the facilitation of trade agreements, exports, and investments. Hence commercial diplomacy is seen to be effective if its objectives of increasing investments, imports, exports, and global trade are realized. This study uses a qualitative research design, case study, literature review and desktop-based approach in terms of data collection. The research methods expose the gravity of exploring the success of trade deliberations among key role players. Crosscutting analysis conducted informs activities of commercial diplomacy. The case study methodology focuses on South Africa as one of the founding members of the Kimberley Process Certification Scheme in 2003, and later as Kimberly Process’ Chair of Working Group on Monitoring from 2017. In the light of findings, recommendations were made, and among others was that business forums will assist to alleviate mistrust between state and businesses in South Africa. The fact that for effective commercial diplomacy to take place, there must be formal use of business forums for stakeholder collaboration, which will in turn lead to policy certainty. The other matter is Covid-19, which necessitated the use of digital platforms for commercial diplomacy activities, as coronavirus contributed towards negative economic growth in South Africa. South African government can use this study’s findings and recommendations to promote South African businesses globally. Dimensions of further scrutiny incorporate the use of digitalization in the African continent in stimulating commercial diplomacy.
