ECONOMIC DIPLOMACY AS A DETERMINANT OF ECONOMIC PROGRESS AND A STRATEGIC PRIORITY FOR THE DEVELOPMENT OF COUNTRIES

Introduction. Under the influence of global transformations in the world, both economic processes and the system of international relations are undergoing changes. Accordingly, modern diplomacy acquires new features, its forms and methods of conduct change, the way of presenting information about one's intentions or rejection of certain phenomena, despite the obligation to comply with protocol requirements. Therefore, the current issue is the scientific substantiation of the conceptual foundations of economic diplomacy and its role in implementing the strategic priorities of the countries' development and ensuring their economic progress. Methods. The research methodology is based on a systemic approach, according to which the tools and methods of economic diplomacy and the economic progress and strategic development of states are considered in a close relationship and causality. To solve the research tasks, both general scientific and special methods of scientific research were used, in particular: the method of going from the abstract to the concrete, analysis and synthesis, generalization and analogy, conceptual and logical analysis, the historical method in combination with the methods of empirical research and international comparative studies. The results. The role of economic diplomacy in the economic development of countries is substantiated. Conceptual approaches to the concept of "economic diplomacy" are defined, and its role in the implementation of the strategic priorities of the countries' development is revealed. It is argued that economic diplomacy acquires a new character and covers wider areas. It is substantiated that the processes of economic integration force more active use of the tools of economic diplomacy. The peculiarities of the experience of some countries in the implementation of strategic development priorities using the tools of economic diplomacy are revealed. The strategic vectors and goals of economic diplomacy in promoting the national interests of countries are outlined. As a result of the conducted research, the conceptual foundations of economic diplomacy were scientifically substantiated; its role in implementing the strategic priorities of the development of individual countries and ensuring their economic progress is argued; the strategic vectors and goals of economic diplomacy in promoting the national interests of states are outlined. Discussion. The obtained research results can be used for further scientific developments regarding the improvement of the theoretical basis of economic diplomacy and its influence on economic progress. Keywords: economic diplomacy, economic progress, tools of "soft power", commercial diplomacy, national interests, strategies of economic diplomacy.