I think it is one of the expressions that is not used in other language very often.
The feeling that we have with this word is "from me, too", "it is I who should say so", "the one who should say so is me", etc.
For example:
A: Nice to meet you. (よろしくおねがいします。)
B: Nice to meet you, too. (こちらこそよろしくおねがいします。)
A: Thank you so much. (どうもありがとうございます。)
B: Thank you, too. (こちらこそ、ありがとうございます。)
(It is I who should say "thank you".)
I hope this was helpful.