Ottawa Agreement

Summary of Ottawa Agreement

A 1932 agreement among members of the British Commonwealth to extend preferential duty rates to one another and to British dependencies. As a condition of entry into the European Economic Community, Great Britain was obliged to depart substantially from the agreement; this departure, coupled with the independence of most British colonies and possessions, has led to a rapid decline of the preferences granted at Ottawa.

OUTSIDER. In steamship usage, a carrier that is not a member of a given steamship Conference (read this legal term for further details).

(Main Author: William J. Miller)