Definitions for bilateral trade
bi·lat·er·al trade

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1. Bilateral trade

   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.

How to pronounce bilateral trade?

1. Alex

   US English

   David

   US English

   Mark

   US English

   Daniel

   British

   Libby

   British

   Mia

   British

   Karen

   Australian

   Hayley

   Australian

   Natasha

   Australian

   Veena

   Indian

   Priya

   Indian

   Neerja

   Indian

   Zira

   US English

   Oliver

   British

   Wendy

   British

   Fred

   US English

   Tessa

   South African

How to say bilateral trade in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of bilateral trade in Chaldean Numerology is: 2

2. Pythagorean Numerology

   The numerical value of bilateral trade in Pythagorean Numerology is: 2

Examples of bilateral trade in a Sentence

1. Hasan Alhasan:

   There are over 8 million non-resident Indians across the Gulf. The Gulf states are key sources of India's oil and gas imports, and bilateral trade is over $ 100 billion, so it is a very important set of relationships from the Indian perspective.

2. John Bolton:

   President Trump remains very eager to cut a bilateral trade deal with an independent Britain. It's what the people voted for in 2016, and when they get out, whether it's now, April 12 or later, we'll be standing right there waiting for them.

3. Matthew Goodman:

   There are some specific parts of the ag sector that really do benefit from this, more broadly, this is not a highly significant deal from a commercial perspective, as it doesn't touch the biggest item in bilateral trade, autos and auto parts.

4. Peter Alexander:

   China policy, irrespective of ongoing bilateral trade issues, is centered on the opening up of the local financial services industry to global participation.

5. Vietnam News Agency:

   Anti-virus prevention measures that Guangxi is applying under the ‘zero COVID’ policies, including closing border gates or stopping fruit imports, are over necessary, this disruption has caused negative impact on bilateral trade and great losses to businesses and people on both sides.

References

1. ^ Wikidata
   https://www.wikidata.org/w/index.php?search=bilateral trade