Economic diplomacy

How it is used

Embassies have commercial attachés and trade offices for this work, and leaders often take business delegations on official visits. Related terms are 'commercial diplomacy', 'trade diplomacy' and 'economic statecraft', which also covers sanctions and aid.

Example sentences

1. Economic diplomacy has become a priority for the foreign ministry.

2. The minister's visit was a good example of economic diplomacy: twenty business leaders came too.

3. Embassies now train their staff in economic diplomacy.

Common collocations

• pursue economic diplomacy
• commercial diplomacy
• trade mission
• business delegation
• economic statecraft

Related terms

• foreign aidMoney, goods, loans or expertise given by one country or organisation to another, usually to support development, respond to disasters or strengthen relations.
• attachéA member of an embassy's staff who specialises in a particular area, such as defence, trade, culture or press; in many foreign services also the most junior diplomatic rank.
• diplomacyThe work of managing relations between countries through talks, agreements and official contacts rather than force; also the skill of dealing with people tactfully.
• interdependenceA situation in which states depend on each other, for example through trade, investment, energy or technology, so that events in one country affect others.
• sanctionsPenalties, such as trade restrictions or frozen assets, that one or more countries or international organisations impose on a state, group or person to change their behaviour.

More terms: Sanctions & Economic Diplomacy

• embargo
• asset freeze
• targeted sanctions
• travel ban
• secondary sanctions
• export controls