Economic diplomacy

Economic diplomacy refers to the use of diplomatic efforts to promote a country's economic interests globally. It involves negotiation and collaboration with other nations to enhance trade, investment, and commercial relations. Through economic diplomacy, countries seek to open markets for their goods and services, secure investments, and attract foreign business. This approach often includes trade agreements, participation in international organizations, and efforts to resolve economic disputes. Ultimately, the goal is to create favorable conditions that support a nation's economic growth and sustainability while fostering positive relationships with other countries.