Economic diplomacy refers to the use of political tools to take advantage of economic opportunities. International players use this strategy for their economic and financial development. The Islamic Republic of Iran has used this method in various periods to promote and improve its economic situation and has had special methods in relation to different regions of the world, among which Latin America has a special place in Iran's economic diplomacy for political and economic reasons. However, this article seeks to answer the question of how the economic actions of the 12th and 13th governments were in Latin America. The findings of the research show that economic diplomacy and promotion of economic relations with Latin America did not have a place in the foreign policy of the 12th government until Trump withdrew from the Joint Comprehensive Plan of Action (JCPOA), and after that it was focused on the limited sale of petroleum products. However, the foreign policy of the 13th government has a special view on Latin America in order to create interaction and improve the economic position of the Islamic Republic of Iran and compensate for lost opportunities, and seeks to establish comprehensive relations with this region. The research is of a qualitative type, a hypothesis-oriented comparative type, with a comparative method and a method of collecting information based on library sources and also conducting semi-structured specialized interviews.