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Historically, there is an inextricable connection between diplomacy as a vehicle for interstate communication and the conduct of international economic relations. Economic diplomacy is a form of diplomatic relations, which is increasingly used by states, with the aim of promoting economic interests in the international market. By mobilizing intergovernmental relations and state prestige, the promotion of international trade and investment relations in the public and private sectors is sought. By using economic instruments, foreign policy objectives are achieved.

Traditionally, foreign policy, whether in the form of diplomacy or strategy, is considered high policy, which focuses on issues of security and national independence. However, in our time, there is an expansion of the scope of politics. Due to the strengthening of the role of states in modern societies, diverse sectors have come within the sphere of influence of foreign policy. The state, therefore, gradually took over the satisfaction of the needs that arose in these sectors. Essentially, diplomacy was forced to take into account sectors of activity that were unfamiliar to it, thus expanding the scope of the state's foreign policy. The enhanced influence of both domestic and foreign policy, as well as the expanded space occupied by economic, technological and cultural issues in the field of foreign relations, has resulted in a qualitative change and a revision of the methods applied by the Ministry of Foreign Affairs. In this way, he assumes more of a role as a coordinator of government activities than as a direct protagonist.
The behavior of states in terms of foreign policy is determined by specific factors and processes. With the increase in the economic interdependence of states, due to globalization, the defined distinction between national and international politics came to an end. Economic diplomacy became more complex, encompassing more issues and actors. Also, a large part of it falls within the field of Geopolitics, in its broadest sense, as it studies the interaction between geographical space and the competition for power that takes place within it. The influence of space consists of the limitations or opportunities that are placed on the competition for power. These limitations or opportunities, although not permanent, depend significantly on the technological capability of the moment and on the human and economic means available to a particular power. The most significant development in recent world history from a geopolitical point of view is the dissolution of the USSR. With the end of the bipolar system, the game of international relations is permanently overturned.
There has been a rapid development of economic and cultural tools that de facto escape the control of nation-states and the traditional framework of their relations. At the same time, the strengthening and multiplication of global structures is radically changing the game of international political relations. It would be reasonable to say that economic and cultural globalization complicates rather than abolishes geopolitics, introducing new players alongside nation-states into the game of competition for power over space.
Commercial diplomacy has become a subject of increasing interest for governments and businesses, as it is considered an essential part of the foreign policy of governments. Berridge and James in the book “A Dictionary of Diplomacy” define commercial diplomacy as “the work of diplomatic missions in supporting businesses of the country of origin and in various sectors of the economy” and as the means for “promoting inward and outward investment as well as trade”. Due to globalization, competition and interconnected markets, businesses have increased their power. Of course, this does not mean a reduction in the power of governments to regulate their national economies, but on the contrary it prepares for a fruitful cooperation, where governments set the necessary conditions for the operation of businesses and the latter benefit from material and intangible incentives offered by governments.
Economic diplomacy now encompasses a wide range of activities managed by official diplomatic missions, national agencies, investment and export promotion agencies, and private sector institutions such as chambers and other business associations. Due to the ever-increasing needs for diplomatic and negotiating management of these issues, many states have reorganized their diplomatic services to achieve better coordination between their political and economic activities. Canada, Australia, Belgium, South Korea, and Albania have merged the responsibilities of the Ministries of Foreign Affairs and Trade into a single Ministry.
It is clear that economic diplomacy, although it originates from the state itself and lies within the framework of foreign policy and diplomatic strategy, significantly influences the initiatives of the private sector, without however being the only factor that determines them. Business diplomacy results from the actions of the private sector, having as its main guideline the investment and economic profit. Undeniably, the state contributes to the facilitation or not of the practices that will be implemented, as it shapes the framework, the form, the size and the type of economic relations that the private sector can develop with third countries. In any case, however, the communication framework and the negotiations follow the already existing diplomatic norms.
The objectives of Greece's economic diplomacy are quite clear. Through the extroversion of its actions, it seeks to increase the export sector and attract foreign investment while supporting the international entrepreneurship of Greeks, which will have reciprocal benefits for the national economy and the country's foreign policy. Greece seeks to become a base for the establishment of headquarters and research centers of large companies that wish to develop subsidiaries (derivative divisions) in neighboring countries, taking advantage of the comparative advantages of the wider region. In short, to be at the forefront of the effort to attract investment not only in the foreign market but throughout the region.
Regardless of which perspective it may be applied, the result is that Economic Diplomacy increases a country's negotiating power, through the tool of its economy, and constitutes - if not the most important - one of the most important foundations on which the formation of an effective Foreign Policy is based.

sources
P. Naskou-Perraki – N. Zaikos, Diplomatic and consular law. Parliamentary, cultural, economic and business diplomacy, Sakkoulas Publications, 2016.

V. Sinanoglou, Economic diplomacy in the EU of the 21st century, Papazisis Publications, 1996.
I. Tsimopoulos, Greek commercial diplomacy in the context of Greek foreign policy, 2012.
Ch. Chalazias, Principles, framework and tools of economic diplomacy policies, 2008.
Th. Giannaros, Economic diplomacy and Greek foreign policy, the case of Turkey, 2011.