Commercial treaty Commercial treaty A commercial treaty is a formal agreement between states for the purpose of establishing mutual rights and regulating conditions of trade. It is a bilateral act whereby definite arrangements are entered into by each contracting party towards the other—not mere concessions. For example, the Methuen Treaty was a commercial treaty between Portugal and England. Another example, between the close of the Napoleonic wars of 1815 and the year 1860, the tariff system of Great Britain was changed from elaborate protection to practically complete free trade. An attempt had indeed been made in 1786 to modify the rigidly protective
Nepal–Britain Treaty of 1923 as a fully sovereign nation. In 1921, when the Prince of Wales, later Edward VIII, came to Kathmandu, Chandra Shumsher raised the question of formulating a new peace treaty between Nepal and Britain. The treaty was discussed by the British authorities in Kathmandu, Nepal and London for more than a year before the final treaty was signed, 21 December 1923, in Singha Durbar, Kathmandu. The terms of the 1923 Nepal Britain Treaty were: "1) Nepal and Britain will forever maintain peace and mutual friendship and respect each other's internal and external independence. "2) All previous treaties, agreements and engagements, since