Twinned villages- How does that work, then?

And why? When driving around I'll often notice that as you enter Gigglethwaite-under-Bottom, the village sign proudly proclaims that they are twinned with Petit Bonqueu sur Mer, Klompenbroek aan de Dijk, or Montecaldo Fondello. Sometimes all three. Does this have any benefits for either village? Are there annual delegations? Do we send a hamper? Has anyone really acknowledged this since the early nineties?