[2] The privilege of the company was to benefit from exclusive trade for Morocco for a period of 12 years, until its charter expired in 1597.
Queen Elizabeth sent her Minister Roberts to the Moroccan sultan Ahmad al-Mansur to reside in Morocco and obtain advantages for English traders.
[3] The formal beginning of Anglo-Ottoman relations dates back to correspondence between Elizabeth I and the Ottoman Sultan Murad III which led in May 1580 to an agreement between the two rulers that English merchants could pass safely through Ottoman-controlled seas and port in the eastern Mediterranean and the Barbary Coast of North Africa.
Morocco was at that point the main source of sugar for the English market, prior of course to the development of the West Indies plantations in the 1600s.
The charter itself was merely a collective licence to two noblemen and around 40 London merchants for exclusive trade with Morocco for 12 years.