Identification and Hierarchical Structuring of Key Components Influencing Iran's Strategic Model of Trade Diplomacy in World Expo Exhibitions

Abstract

Objective: This study aims to identify and rank the key components influencing Iran's strategic model of trade diplomacy in World Expo exhibitions. Methodology: The research adopts a mixed-methods approach. Initially, the components of Iran’s trade diplomacy in World Expo exhibitions were identified through a literature review and semi-structured interviews with experts. The interviews were analyzed using open, axial, and selective coding, resulting in 33 categories and eight key components. These components include cultural showcase, presentation of trade and economic opportunities, trade negotiation, resource management, national branding, private sector participation, development of a trade diplomacy framework (clear articulation of trade diplomacy policy), and research and development (R&D). In the quantitative phase, an interpretive structural modeling (ISM) approach was employed to develop Iran’s trade diplomacy model for World Expo exhibitions based on input from 15 stakeholders, including trade diplomats, business professionals, academics, and Expo organizers. Subsequently, MICMAC analysis was utilized to assess the influence and dependency levels of these components. Findings: The results indicated that private sector participation ranks at the highest level in Iran's strategic trade diplomacy model for World Expo exhibitions. Following this, national branding and the development of a trade diplomacy framework occupy the next level. Research and development, along with trade negotiation, were identified at the third level, while cultural showcase and the presentation of trade and economic opportunities were positioned at the fourth level. Resource management was placed at the lowest level of the strategic trade diplomacy model. Conclusion: Using interpretive structural modeling, the position of these factors was mapped in a variable scatterplot with the help of MICMAC analysis, allowing for the identification of key variables’ roles and interrelations within the strategic framework.