Question : The Policy of ' Imperial preferences' adopted by Britain in its colonies in 1932 is also known as the
Option 1: Hong Kong Agreement
Option 2: London Agreement
Option 3: Ottawa Agreement
Option 4: Paris Agreement
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Correct Answer: Ottawa Agreement
Solution : The correct option is Ottawa Agreement
Following the Ottawa Conference of 1932, the British Empire and the then-British Commonwealth (now referred to simply as the Commonwealth of Nations) both adopted the Imperial Preference system of mutual tariff reduction. The 12 bilateral trade agreements known as the Ottawa Agreements included certain other commitments and reciprocal tariff concessions.
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