Bilateral Relations
Bilateralism consists of the political, economic, or cultural relations between two sovereign states. For example, free trade agreements signed by two states are examples of bilateral treaties. It is in contrast to unilateralism or multilateralism, which refers to the conduct of diplomacy by a single state or multiple states, respectively. Typically when states recognise one another as sovereign states and agree to develop diplomatic relations, they exchange diplomatic agents such as ambassadors to facilitate dialogues and cooperation in various fields mentioned above.
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“All social rules and all relations between individuals are eroded by a cash economy, avarice drags Pluto himself out of the bowels of the earth.”
—Karl Marx (1818–1883)