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Economic diplomacy in small countries: a four-action plan for the Cayman Islands

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  • Laura Panadès-Estruch

Abstract

The Cayman Islands is finally ready to establish external relations. Starting almost from scratch, its new Ministry of International Trade, Investment, Aviation and Maritime Affairs is launching a coordinated global charm offensive. Economic diplomacy should be put at the centre of the Ministry's strategy because of Cayman's role as a world-leading offshore financial centre. This article puts forward a four-action plan to inform its early activities. It is structured in four main sections, covering each of the suggested actions, which are (i) setting up an electronic one-stop-shop for investment, (ii) humanising 'Brand Cayman', (iii) creating a worldwide network of Government offices, starting in Brussels, to deploy economic diplomacy and (iv) promoting blue-green investments on island through public-private partnerships. The methodology is desk-based research. Sources blend international and local materials for a unique perspective.

Suggested Citation

  • Laura Panadès-Estruch, 2020. "Economic diplomacy in small countries: a four-action plan for the Cayman Islands," International Journal of Diplomacy and Economy, Inderscience Enterprises Ltd, vol. 6(1), pages 67-84.
    • Handle: RePEc:ids:ijdipe:v:6:y:2020:i:1:p:67-84
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