Thursday, October 29, 2015

Alexander Korablinov — China, India offer Russia barter system for agricultural products

No brainer given balanced trade and comparative advantage, especially where Russia wants food produced in other countries and the other countries want natural resources and energy, and advanced weaponry produced in Russia. Russia is a major food producer, too, so there could be purely agricultural exchanges.
China, India, Iran and Turkey have offered to use the barter system in the food industry with Russia to avoid transactions in dollars, Russian agricultural watchdog aide Alexei Alekseyenko told Sputnik News.
“We have been getting suggestions from various countries that accounts should be handled in national currencies, or even using mutual goods, that is the barter system, “Alekseyenko told the news agency. “We’ve had negotiations in Tehran, Ankara, New Delhi, Beijing, and so forth.”
Russia Beyond the Headlines
China, India offer Russia barter system for agricultural products
Alexander Korablinov


Ralph Musgrave said...

Much of the trade between East European countries and Russia before the collapse of communism was on a barter basis rather than for cash.

Matt Franko said...

What do they do with any surplus throw it out? I doubt it...