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 establishing the European Defence Community Plan (1959–1962). European foreign policy was finally established during the third attempt with European Political Cooperation (EPC) (1970). This became the predecessor of the Common Foreign and Security Policy (CFSP). Today the European Union and NATO, and formerly also the Western European Union, all carry out some of the functions which was envisaged for the EDC, although none approach the degree of supranational military control that the EDC would have provided for. Treaty establishing the European Defence Community The Treaty establishing the European Defence Community, also known as the Treaty of Paris, is an unratified treaty signed on 27 May