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).
She hoped to further strengthen bilateral economic, trade and investment cooperation as well as people-to-people and cultural exchanges in the post-pandemic period and jointly safeguard international economic and trade rules.
It is playing an increasingly visible role in the international arena in areas such as peacekeeping, public health, trade and technology ... Over the last two decades, China has become Africa's largest trading partner, with trade between the two sides reaching $208 billion in 2019.
Trading partners are labeled manipulators if they meet specific criteria - a more than $20 billion bilateral trade surplus with the United States, foreign currency intervention exceeding 2% of gross domestic product and a global current account surplus exceeding 2% of ...
DUBAI ...New Delhi alleged Pakistan-based militants carried out the attack and sent warplanes to Pakistan ... Later that year, India’s prime minister withdrew IHK’s autonomy in order to tighten his grip over the disputed territory, provoking outrage in Pakistan and the downgrading of diplomatic ties and suspension of bilateral trade ... .
Bilateral trade between the Philippines and Poland more than quadrupled in the past five years encouraging both countries to further broaden their economic cooperation ... highlighted the 100 percent increase of bilateral trade between Poland and the Philippines from 2015 to 2020.
In the post-Brexit period, the UK has been working on securing an enhanced trade partnership with India as a step towards a possible bilateral free trade agreement, the statement said. Bilateral trade and investment flows have seen steady and sustained growth in recent years, and ...
The two leaders exchanged views on bilateral, regional and international issues. They also reviewed the entire spectrum of bilateral relations with particular focus on political, trade, security and defence, and educational and cultural domains ... trajectory of bilateral relations.
Washington, Apr 15 (PTI) The bilateral trade in education services between India and the US could record exponential growth if Washington removes barriers like visa and entry restrictions on the free flow of students, according to a top American business advocacy group.
(MENAFN - Trend News Agency) A senior Iranian parliamentary official called for the enhancement of bilateral trades between Iran and Iraq, Trend reports citing Mehr ... During the meeting, Golroo emphasized the need to strengthen trade relations between Iran and Iraq, saying, ...
The leaders of Pakistan and Uzbekistan agreed to improve connectivity and boost bilateral cooperation in trade, security, and defense sectors during a virtual summit ... Recognizing the enormous economic potential, the two leaders vowed to enhance the volume of bilateral trade by ...
Guelleh highlighted wide horizons to develop bilateral relations and boost joint cooperation with Egypt in various fields. The two presidents discussed bilateral cooperation issues, especially in the fields of economy, trade exchange and investment, the statement noted.
Chile was the first Latin American country to sign a bilateral agreement with China on its accession to the WorldTrade... The robust bilateral economic and trade cooperation has delivered fruitful results, bringing benefits to both sides and the two peoples with their joint efforts.
Mishustin in his turn noted the decrease in Russia-Lebanon bilateral trade. “We would like to give a new impulse to our trade and economic cooperation ... It is necessary to fix it, to increase mutual trade,” said Mishustin.