Understanding Bilateral Trade Quiz - Test Your Knowledge

💡 Interesting Facts

improving Indo-Taiwanese relations have led to bilateral trade rising to USD 2.26 billion by 2005, even though India has not accorded diplomatic recognition to Taiwan.

improving Indo-South African relations have led to phenomenal growth in bilateral trade, rising from US$3 million in 1992-93 to US$4 billion in 2005-06 and targeting US$12 billion by 2010.

since normalizing Sino-Mongolian relations, bilateral trade has risen to US$1.13 billion and China has become the largest trading partner and foreign investor in Mongolia.

with Cambodian-Vietnamese relations improving after the Cambodian-Vietnamese War, both nations set a target to increase bilateral trade to USD 2.3 billion by 2010.

growing Indo-Singaporean relations include extensive military cooperation and diverse bilateral trade, which is expected to rise from USD 9–10 billion in 2006 to USD 50 billion by 2010.

although building India's first overseas military base in Tajikistan strengthened Indo-Tajik relations, bilateral trade remained low at USD 12.09 million in 2005.

India and Vietnam plan to sign a free trade agreement to bolster bilateral relations and further expand trade, which is expected to reach US$2 billion in 2008.

Germany helped India establish the Indian Institute of Technology Madras and their bilateral trade is expected to reach €30 billion by 2010.

a free trade agreement made effective in 2000 strengthened Indo-Sri Lankan relations and quadrupled bilateral trade, which grew to US$2.6 billion by 2006.

bilateral trade between India and Poland has grown by more than seven times from 1992 to 2007.

Understanding Bilateral Trade

1 Bilateral trade or clearing trade is trade exclusively between two states, particularly, ________ based on bilateral deals between governments, and without using hard currency for payment.

2 Strategic goods, such as ________, are still traded bilaterally rather than in a multilateral open market.

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