Bilateral trade or clearing trade is trade exclusively between two states, particularly, barter trade based on bilateral deals between governments, and without using hard currency for payment. Bilateral trade agreements often aim to keep trade deficits at minimum by keeping a clearing account where deficit would accumulate.
The Soviet Union conducted bilateral trade with two nations, India and Finland. On the Soviet side, the trade was nationalized, but on the other side, also private capitalists negotiated deals. Relationships with politicians in charge of foreign policy were especially important for such businessmen. The framework limited the traded goods to those manufactured domestically and as such, constituted a subsidy to domestic industry.
Bilateral trade was highly popular within Finnish business circles, as it allowed the commission of very large orders, additionally with less stringent requirements for sophistication or quality, if compared to Western markets. The Soviet side was motivated to participate in clearing trade because the arrangement essentially provided cheap credit. The option was to sell obligations to the international market, and pay interest in hard currency. Capital, such as icebreakers, train carriages or consumer goods, could be obtained from Finland, and the cost would simply become clearing account deficit, eventually to be paid back as e.g. crude oil, or as orders such as nuclear power plants (Loviisa I and II).
Third, the highlight of Northeast Asia regional cooperation has been bilateral cooperation, with China-Japan, China-ROK, China-Russia, Russia-Japan, Russia-ROK and ROK-Japan bilateral economic and trade ties in full swing ... Buoyant bilateral economic and trade ties have provided a ...
SINGAPORE - Bilateral trade between Singapore and Guangdong remains robust despite the Covid-19 pandemic, with firms pursuing opportunities in areas such as innovation, intellectual property (IP) and finance ... Bilateral trade between the two jurisdictions amounted to US$18.3 ...
Xu Haifeng, chairman of the CCCEU, said at the launch event that China is now the EU's top trading partner in goods despite the challenges posed by the pandemic ...China's economic rebound, strong demand in Europe and a resilient supply chain all played a role in the growth of bilateral trade, he said.
The range of Russian products supplied to Morocco has been expanding, the trade envoy noted ... "As a result, after last year's fall, bilateral trade increased by 13% and reached almost $670 million," he said.
“I want a closer trading and investment relationship with the Gulf and for us to collaborate more closely on issues like intelligence sharing, development, security and defense,” Truss said ... She will also launch a UK-Qatari strategic dialogue, which will form the basis for deeper bilateral cooperation on security, development, trade and investment.
The trade in energy supplies offers the potential for greater cooperation, in much the same way that joint efforts on biodiversity conservation and financial management do, Zhao said ... "The bilateral trade in natural gas has good prospects for development and would be the best example of a win-win situation," the academic said.
GANSU, China--(BUSINESS WIRE)--Oct 20, 2021-- ... This press release features multimedia ... (Photo. Business Wire) ... It also further promotes a mutually beneficial cooperation, especially with regards to economy and trade ... The volume of Chinese investment and bilateral trade with Central Asian countries has been growing steadily for two decades in a row ... Web.
Sultan bin Mohammed Al Nu’amani ... A meeting with the Chairman of Public Authority for Special Economic and FreeZones Ali bin Masoud Al Sunaidy focused on opportunities for strengthening cooperation on investments and bilateral trade with an emphasis on shipping, renewable energy sources and tourism ... READ MORE ... Tags. Dendias, Nikos Dendias, Oman ... .
The ambassador explained Kazakhstan’s experience in overcoming crises, developing friendly relations with external partners, as well as the prospects for developing bilateral relations between Kazakhstan and Ethiopia. As part of their relation, strong trade ties could benefit the two countries, said the ambassador,.
Iran has urged Pakistan to remove it from category C of its Covid-19-related travel restrictions, as the ban is not only affecting the flight operations but also bilateral trade between the two countries.
Others who spoke to VOAMandarin argued that even with a meeting between the top leaders, restarting bilateral relations will be challenging given the complexity of the issues and the long-term tension between the nations ...Bilateral talks on security issues, trade and climate change show few signs of productivity, he added.
The high-level forum brought together government and business leaders to explore bilateral trade opportunities between the UAE and Africa and featured several thought-provoking sessions – the first in a series of GlobalBusiness Forums taking place at Expo 2020 Dubai, with the upcoming forums focusing on Latin America and the ASEAN region.