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.
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bilateral trade

the trade between two countries. Bilateral trade is a part of INTERNATIONAL TRADE, which is multilateral in scope. See MULTILATERAL TRADE, COUNTERTRADE.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
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