That is not precisely true, even though it may often play out that way.
Reciprocity=formal agreement between two States to honor each others' permits.
Honoring/recognition=one State decides to honor another State's permits. Example: State "A" chooses to honor all State's permits (like Alaska). State "B" chooses to honor Permits with issuance guidelines that fall into certain categories, which State "A" happens to have. State "B" honors permits from State "A" statutorily (in effect), and State "A" honors State "B"'s permits, but they never bother to make a formal reciprocity agreement. I know I can be unclear, but that it the gist of it, if anyone cares.
Point is, you can have two States that honor each other's permits w/o a formal reciprocity agreement. All that reciprocity means (legally) is that the States have offically colluded and agreed to continue honoring each other's permits until further notice.