Bilateral agreement

A bilateral agreement is a type of contract or treaty made between two parties, often countries, to specify mutual benefits and responsibilities. These agreements cover a broad range of subjects, including trade, defense, environmental regulations, and cultural exchanges. They aim to foster cooperation and enhance relationships between the involved parties. Bilateral agreements are crucial in international relations as they facilitate dialogue and help resolve disputes. They provide a framework for both parties to meet their shared goals while respecting each other's interests. Negotiating these agreements often requires careful diplomacy and a clear understanding of each party's needs and concessions.