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
Treaty between Thailand and Japan (1940) common concern. Article 3 stipulated that if a party was under attack by a third party, the other party would not lend any assistance to the attacking third party. Article 4 provided for the ratification of the treaty. Article 5 stipulated the treaty would remain in force for five years, with the possibility to extend it further. The growing co-operation between the Thai and the Japanese governments in the wake of the treaty led the Thais to wage a brief and successful war against French Indochina in 1940-1941, which resulted in some territorial conquests for Thailand with Japanese assistance. In