bilateralism

noun

bi·​lat·​er·​al·​ism (ˌ)bī-ˈla-t(ə-)rə-ˌli-zəm 

plural -s

1

: the state of being bilateral

especially : bilateral symmetry

2

: the practice of advancing trade between two countries by concluding agreements governing such factors as the volume and composition of trade, the price of commodities, and the settling of accounts

—contrasted with multilateralism

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