INDIA IN COUNTERTRADE DEAL FOR MALAYSIAN PALM OIL
India is to partially cover the cost
of its Malaysian palm oil imports through a countertrade deal
involving the construction of two bridges valued at 20 mln
dlrs, an Indian trade source told Reuters.
    He said Malaysia agreed to the oil-for-bridges deal in
October after India said it could no longer buy some 700,000
tonnes of palm oil a year because of its trade deficit.
    Malaysia has also agreed to barter palm oil for 30 mln dlrs
of hydroelectric equipment and is interested in countertrading
for Indian iron ore, wheat and other goods and services, he
said.
 REUTER
