bilateral trade

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Bilateral Trade

The barter of goods between companies and/or governments in two countries, almost always without recourse to currency. Bilateral trades were more common during the Cold War; the Soviet Union conducted bilateral trades to allow for its government to serve as one party while a private company in another country served as the other. Bilateral trades have become rare since except for highly sensitive goods like nuclear material.

bilateral trade

the trade between two countries. Bilateral trade is a part of INTERNATIONAL TRADE, which is multilateral in scope. See MULTILATERAL TRADE, COUNTERTRADE.
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