write an event that lead the British mjade free trade rights in Bengal, Bihar and Orissa
Answers
Answer:
Based on the terms of the agreement, Alam granted the East India Company Diwani rights, or the right to collect taxes on behalf of the Emperor from the eastern province of Bengal-Bihar-Orissa. These rights allowed the company to collect revenue directly from the people of Bengal, Bihar, and Orissa.
Explanation:
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Answer:
A trade agreement (also known as trade pact) is the wide-ranging taxes, tariff and trade treaty that often includes the investment guarantees. It exists when two or more countries agree on the terms that help them trade with each other. The most common trade agreements are of preferential and free trade types, which are concluded in the order to reduce (or eliminate) tariffs, quotas and other trade restrictions on the items traded between signatories.
The logic of formal trade agreements is that the outline what is agreed upon and the punishments for deviation from rules set in agreement. Trade agreements therefore make the misunderstandings less likely, and create confidence on both sides that the cheating will be punished; this increases the likelihood of long-term cooperation. An international organization, such as IMF, can further incentivize cooperation by monitoring compliance with the agreements and reporting third countries of the violations. Monitoring by international agencies may not be needed to detect non-tariff barriers, which are disguised attempts at the creating trade barriers.
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