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Article: Countertrade arrangements rise as oil prices retreat.
- Article from:
- The Oil Daily
- Article date:
- November 18, 1985
- Author:
CopyrightCOPYRIGHT 1985 Energy Intelligence Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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LONDON -- Countertrade has a long history, mainly between the Eastern bloc and Western countries. Dozens of specialist firms have been formed in West Germany, Austria, Belgium, France, Italy, The Netherlands, Switzerland and the United Kingdom during the past 30 years to undertake such transactions.
Only in recent years have countertrade transactions developed significantly in other parts of the world such as the Middle East where countertrade, while not a norm, is, nevertheless, a well-established business practice.
While it has been said that countertrade is more discussed than practiced, the decline in world oil prices has stimulated a substantial ...