The role of the international etiquette and protocol in the development of foreign economic relations in the region

The research substantiates the impact of such institutional factor as international etiquette and protocol on the development of foreign economic relations in the region. The study is based on the hypothesis that ethical and protocol standards are to be applied to improve the international and foreign economic relations and contribute to the growth of foreign trade turnover. There is a lack of research into the impact of the above-mentioned institutional factor (including the Protocol Service responsible for organizing international events in view of the rules and standards of international etiquette and protocol) on the development of international cooperation. The purpose of the study is to devise scientific approaches to assessing the effects of the applied rules of the international protocol and etiquette on the regional development of foreign economic relations. The research compares the intensity of international affairs with the foreign trade volume of Sverdlovsk region in recent years. The ethical and protocol standards within the international and foreign economic cooperation will enhance its efficiency and help one achieve greater success on foreign markets. The study proves the hypothesis put forward by the authors and justifies the fact that it is important to use the ethical and protocol standards to promote foreign economic relations resulting in the increased foreign trade turnover in the region.