What is Bilateralism?

Bilateralism refers to a political or economic policy that emphasizes the importance of direct, one-on-one relationships between two countries or entities, rather than relying on multilateral agreements or organizations. In the context of international relations, bilateralism can refer to diplomatic efforts focused on negotiating and concluding separate agreements with individual countries, rather than participating in multilateral forums or organizations where many countries are involved.
Bilateralism is often contrasted with multilateralism, which emphasizes cooperation among multiple countries or entities through a single agreement or organization. Bilateralism can be seen as a way to streamline decision-making and avoid the potential drawbacks of multilateral negotiations, such as compromises and delays. However, it can also lead to unequal treatment of individual countries and a lack of coordination among them.
Bilateralism is often used in trade agreements, where two countries negotiate a separate agreement that only applies to them, rather than participating in a multilateral trade organization like the World Trade Organization. Bilateral investment treaties are another example of bilateralism, where two countries agree to specific rules and protections for investors from one country operating in the other country.
In summary, bilateralism is a political or economic policy that emphasizes direct, one-on-one relationships between two countries or entities, rather than relying on multilateral agreements or organizations. It can be seen as a way to streamline decision-making and avoid potential drawbacks of multilateral negotiations, but it can also lead to unequal treatment of individual countries and a lack of coordination among them.