"mutual concession" is a correct phrase and can be used in written English.
You can use it when two parties have agreed that each side should give something up in order to reach an agreement. For example, "The two sides eventually reached a compromise after making a mutual concession."
His solution was dialogue and mutual concessions.
The sequencing of mutual concessions would be subject of delicate negotiations as would be their irreversibility.
This matchup does not augur well for the new Middle East peace process, begun last week when American officials published a seven-page road map of proposed mutual concessions.
Only a negotiated settlement that addresses both sides' vital interests, based on mutual concessions, has a chance of achieving an enduring peace.
The Bush administration, mobilizing to keep its peace initiative in the Middle East from unraveling, made plans today for Secretary of State Colin L. Powell and other envoys to travel to the region to seek mutual concessions from Israel and the Palestinians.
The new president had a plan for mutual concessions: application of the long-promised ("roadmap") freeze on Israeli settlement construction on Palestine land, and a fresh Palestine start on security negotiations.
Yet that is what Prime Minister Ariel Sharon seems to have in mind by letting it be known that he will not be ready to move ahead on the newly published "road map" of mutual concessions when Secretary of State Colin Powell calls on him this weekend.
For all its travails, the achievement of the WTO and its predecessors has been to provide a forum which could produce solutions of general interest from negotiation and mutual concessions, based on self-interest that went beyond the most basic of calculations.
I hope that President Obama will steadfastly support Israel's mainstream body politic by promoting a policy that has greater likelihood of strengthening Israel's moderates, enticing its neighbors to the negotiating table, and exacting from both sides the mutual concessions necessary to bring the peace and stability we crave so much.
Compromise is the settlement of differences by mutual concessions.
