Part Article 3

The contracting Parties agree that in all matters relating to commerce, navigation, and industry any privilege, favour, or immunity which either contracting Party has actually granted or may hereafter grant to the subjects or citizens or ships of any other foreign State shall be extended immediately and unconditionally to the subjects or citizens or ships of the other, it being their intention that the commerce, navigation, and industry of each country shall be placed in all respects on the footing of the most favoured nation.