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).
Assistance is provided in appreciation of the longstanding bilateral relations between our two countries ...High Commissioner Illias also reaffirmed Malaysia’s commitment to further support Fiji in its economic recovery and rebuilding efforts through enhanced engagements in areas of agriculture, trade and investment.
In the absence of a global carbon trading mechanism, countries should strike bilateral deals and form coalitions to trade carbon credits across borders ...The answer might lie in coalitions of governments willing to trade carbon credits across borders to meet their national climate ...
European investors are increasingly playing a bigger role in the Thai economy, allowing the Southeast Asian country to diversify trade and business away from the United States and China, analysts say ... The bloc is also Thailand’s fourth-largest trading partner, with bilateral trade worth €29 billion ($35 billion) in 2020.
Samsung, Hyundai and SK shine in supporting Team Korea at the TokyoGames... Conglomerates have been relying on rather passive promotional marketing due to negative perceptions over Japan's drive to host the pandemic-delayed Olympics, as well as deteriorated bilateral relations, amid the ongoing trade dispute between Korea and Japan ... 11 ... Yonhap ... The U.S.
Zafar said that there is a potential of about $2 billion in bilateral trade between Pakistan and Afghanistan, which can be further enhanced by adding some new sectors ... He said that more serious and concrete steps needed to be taken for increasing bilateral trade, which had decreased to $650 million from $1billion per year.
A delegation of FPCCI led by its Chairman CapitalOffice Qurban Ali called on Ambassador of Iran to Pakistan and apprised him about the opportunities existing in bilateral trade and investment, particularly in context of China-Pakistan Economic CorridorProject, said a press release issued by chamber here today.
For his part, Minister of Foreign AffairsSameh Shoukry said that bilateral trade during the past year, although not up to the level of friendship and partnership relations with the Czech side, gives giant opportunities to develop future joint economic relations, calling on ...
Advertisement ... “It is a major development in the rail network of north Bengal and will largely boost bilateral trade with Bangladesh. A number of neighbouring countries can send their goods through this route ... However, the longstanding demand of north Bengal residents to reopen the route eventually made the issue come up in bilateral talks. .
The country will carry out high-level pilots for cross-border trade and investment. It will expand the pilot program of trade balance ... It will coordinate national pilot free trade zones to advance bilateral or regional opening up through free trade agreements, said the statement.
Bangladesh and India on Sunday started regular operation of freight trains through the restored Haldibari-Chilahati rail route after over 50 years, which will strengthen railway connectivity and bilateral trade between the two countries.
Underscoring that the UAE aims to continue supporting Tajikistan on its path to prosperity and sustainable development, Alshaali expressed satisfaction with the level of bilateral, regional, and international cooperation. Alshaali noted that UAE-Tajikistan trade relations ...
“We expect that the resumption of this commercial train service will give new momentum to bilateral relations in terms of trade and people-to-people connectivity between our two friendly countries,” Md. Nurul Islam Sujon, railway minister of Bangladesh, told reporters. .