bilateral trade


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Related to bilateral trade: multilateral trade

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.
References in periodicals archive ?
Further, they also requested the Pakistani Government to open more border points between Pakistan and Iran mainly at Ramdan, Pishin and Korak, which will further enhance the bilateral trade. The Advisor also suggested to remove various forms of taxation such as road and loads taxes on vehicles/trucks which are crossing the borders to facilitate the bilateral trade.
These issues include removing barriers which have made Pak-Iran PTA (signed in 2006) ineffective and working out barter trade mechanism in order to increase bilateral trade in agricultural/food products and pharmaceutical.
The adviser apprised the delegation that bilateral trade was not up to the true potential and urged Iran to take necessary measures to remove non-trade barriers so that the real potential could be tapped.
Irrespective of the fact that Iran had been facing sanctions and Pakistan was also going through difficult period, the two countries should start developing bilateral trade, he added.
Imran Khan expressed the wish that Pakistan and Iran should start developing their bilateral trade on immediate basis.
He said given the prevailing situation, both the countries should start mulling to work out ways and means to enhance the bilateral trade.
'Bilateral trade grew by 11 percent to exceed US$76 billion last year," said Tsai.
The Chinese Commerce Ministry said in May that bilateral trade with Russia might surpass $100 billion in 2018 and reach $200 billion in 2020.
ESMA Director-General Abdulla Abdul Qader Al Maeeni told Salaam Gateway, which is a joint effort between Dubai Islamic Economy Development Centre and Thomson Reuters, that the cooperation will harmonise the standard for halal in the two countries and help increase bilateral trade between UAE and Indonesia.
Though we are generally satisfied with the overall positive trajectory in our bilateral relations, we feel there is a great potential to further enhance our bilateral trade and investment.
"Exports from Mongolia account for less than 5 percent of the bilateral trade turnover.
An Iranian envoy has voiced his country's interest in booming bilateral trade with Pakistan by 70 percent.

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