Tokyo 2020 and Paris 2024 have vowed to cooperate in areas including legacy and cost-cutting after the two Organising Committees signed a Memorandum of Understanding (MoU) here today.
Toshirō Mutō, Tokyo 2020 chief executive, and Paris 2024 counterpart Etienne Thobois both claimed the MoU on "relations and cooperation" would help with the successful delivery of the next two editions of the Summer Olympic Games.
The agreement, signed during the latest International Olympic Committee Coordination Commission inspection of the Japanese capital's preparations for the 2020 Games, also covers subjects such as ceremonies, engagement and education.
Mutō revealed Tokyo 2020 and Paris 2024 would "work hand-in-hand effectively utilising the resources, know-how and knowledge so that we will steadily promote the Games and build momentum".
It was described as a "win-win" deal for both of the Committees.
Thobois singled out the Tokyo 2020 sponsorship and marketing plan and the way they carried out the search for mascots as particular areas which impressed Paris 2024 organisers.
"This is a very important day for us," said Thobois.
"Tokyo 2020 will be our first partner and we are really working forward to working with them.
"We will hopefully thanks to you speed up our learning curve."
Thobois added: "The objective of this agreement is to help us to be able to deliver a great Games.
"The Games of Paris and Tokyo will be very different but there will also be very much the same, in the sense that there is a love for sport and what it can bring to society through legacy."
Cost-cutting is expected to feature heavily amid continued concerns over the budget of Tokyo 2020, while Paris 2024 have also been warned about over-spending.
Mutō promised Tokyo 2020 would pass knowledge on to Paris 2024 but they could also learn from organisers in the French capital in the lead-up to the Olympics and Paralympics in two years' time.
"Paris is similar to us when it comes to organising the Olympic Games," he said.
"We wondered if we could be of any use to the Organising Committee and we thought Tokyo could make some good contribution.
"For the two years we will be working together, it is quite possible that we will learn from Paris too.
"We will be able to build-up the momentum and excitement in running the Games."