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Reciprocity

A principle that underlies GATT negotiations, that countries exchange comparable concessions.

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Related terms

reciprocity
Professional careers; Sales

A practice, which may be illegal under the trade practices legislation, in which a firm gives purchasing preference to a firm to which it sells, see reverse reciprocity.

reciprocal
Education; SAT vocabulary

Mutually interchangeable or convertible.

reciprocate
Education; SAT vocabulary

reciprocate, is give and take mutually, on mutual, equal basis.

reciprocity
Education; SAT vocabulary

Equal mutual rights and benefits granted and enjoyed.

reciprocity
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A mode of exchange in which transactions take place between individuals who are symmetrically placed, i.e. They are exchanging as equals, neither being in a dominant position.

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Doing as you are done by. A grants B certain privileges on the condition that B grants the same privileges to A. Most international economic agreements, for example, on trade, ...

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