The article surveys the literature on countertrade with special reference to the Asian‐Pacific region. It covers the five most common forms of ‘tied’ trade: barter, counterpurchase, buyback, offset and bilateral agreements. It focuses on China as the most important centrally planned economy in the region; on the two regional market economies which have made use of countertrade, Indonesia and Malaysia; and on Singapore as a countertrade service centre. The literature survey consists not so much of the relatively few academic books and articles on the subject but of a miscellany of articles to assist practitioners and to study appropriate responses at the firm, national and global