Economic diplomacy (ED) plays a pivotal role in the intersection of international economics, political strategy, and foreign policy. This chapter examines the theoretical foundations, key concepts, and practical dimensions of ED, highlighting its significance in shaping trade, investment, financial cooperation, and soft power influence. Particular attention is given to the impact of the COVID-19 pandemic and the ensuing “new normal” on global economic structures, supply chains, and multilateral governance. By integrating classical trade theory, political economy, institutionalism, and contemporary frameworks such as digital, green, and development diplomacy, this chapter provides a comprehensive understanding of ED as both a scholarly field and a policy instrument for national competitiveness and international cooperation.