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).
It will add at least $250 million to the bilateral trade between the two countries.” ... The UAE is Thailand’s sixth-largest trading partner globally and holds the first position in the Middle East. Bilateral trade between the two countries reached $11.1 billion in the first seven months of 2023.
HOHHOT, Sept ... 8, and China-Mongolia international passenger train services resumed on Aug ... In recent years, bilateral trade between China and Mongolia has seen a steady rise in scale. In 2022, bilateral trade totaled 12.2 billion U.S ... ■ ... .
... countries to support bilateral relations in all fields and work towards achieving common interests, which will positively impact trade, investment, financial sectors, and enhance financial stability,” KhaledMohammad Al-Ama, Governor of the Central Bank of the UAE, said.
The primary objective of these meetings revolved around the enhancement of bilateral trade between the two nations ... The IPA will help strengthen Pakistan’s business environment, build the capacity of institutions focused on investment promotion, attract FDI, and increase US-Pakistan bilateral trade and investment.
Anyone connected with the UAE on bilateral trade, we look at how to grow trade by 10 folds,” Al Marri said ... A prime example of this potential lies in the flourishing UAE-India bilateral trade, expected to reach $100 billion by 2030, driven by their CEPA,” Krishen said.
Ambassador Lu noted that China and Ghana had been good friends, good partners and good brothers and supported each other in bilateral and multilateral endeavours ... For instance, bilateral trade volume, last year, reached an unprecedented high of about $10.2 billion, with Ghana’s exports to China surging by 60 per cent during the period.
China has become the largest trading partner of Ghana, with bilateral trade between the two countries reaching $10.2 billion in 2022, an increase of 7.3 per cent year-on-year ... China trade with the African continent has also surged ... China’s trade with Africa hit around $150 billion.
Growing trade 'win-win situation' ... unrestricted trade ... Statistics show that China and the EU were each other's second-largest trading partner in 2022, and that the volume of bilateral trade reached a record-high $847.3 billion last year, despite the slow global economic recovery.
The diplomat said that bilateral trade had surged to nearly $3.5 billion in the first seven months of this year, while China’s imports from Jordan increased by 25 per cent ... The ambassador also noted the growing number of electric vehicles on Jordan’s streets ... Image. Section ... Section Journalists.
This was at a time when the US had not even triggered trade frictions with China and "partnership" was the key word defining their bilateral relationship. That was also the time when the US was keeping a tab on allies and imagined enemies alike, such as by bugging the then German leader's phone, as EdwardSnowden revealed ... (Web editor ... .