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Economic diplomacy is a multifaceted tool that European countries, both individually and collectively through the EU, use to promote their economic interests, enhance their global standing, and address pressing global challenges. In his book, Andreas N. Papastamou, Professor of European Economics and Economic Diplomacy, who served as an economic diplomat at the Ministry of Foreign Affairs of Greece for 23 years, analyses contemporary challenges of economic diplomacy, from the impending reconstruction of Ukraine and the response to increasingly frequent international geopolitical shocks, to the relationship between the promotion of states' commercial interests and development cooperation and human rights. The book has six chapters, covering major challenges of economic diplomacy for the European Union. The first chapter is a fruitful overview of the history of economic diplomacy from the cultures of antiquity to the 21st century, with the contemporary challenges of globalization, digitalization and sustainable development. The second chapter examines the means available to economic diplomacy in Europe to deal with increasingly frequent international geopolitical shocks. The third chapter highlights the plans of European institutions and states for the post-war reconstruction of Ukraine. The fourth chapter examines the sensitive aspects of trade diplomacy and development cooperation with human rights. The fifth chapter focuses on the training of economic diplomacy officers and the sixth chapter on the role of European universities in dealing with economic crises.