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A concession agreement in the business world can refer to a contract between a foreign company and a government, allowing the company to do business in the country with specific requirements. It can also grant the concessionaire exclusive rights to operate in a particular area in exchange for negotiated terms. These agreements are crucial for companies looking to do business in foreign countries, with governments offering incentives like tax breaks or relaxed restrictions to attract business. In some cases, companies may need to make concessions to secure the agreement.
