Bilateral agreement

Okay kiddo, imagine two friends want to play together. They make a deal that they will both do something that makes the other happy. This is a bilateral agreement – they both agree to do something for each other.

Now, let's say two countries want to trade with each other. They make a deal where they will both agree to certain terms and conditions. This is also a bilateral agreement – both countries agree to do something for each other.

Just like friends, countries can have different reasons for making bilateral agreements. They might want to trade goods or services, work together on something like the environment or security, or just be good neighbors. Whatever the reason, a bilateral agreement is a way for two parties to make a deal and keep each other happy.