The parties agreed to commercial terms allowing English merchants trading privileges within the Spanish Empire that remained in place until superseded by the Treaty of Utrecht in 1714.

They undertook not to assist each other's enemies, and England also agreed to mediate an end to the 1640-1668 Portuguese Restoration War, which resulted in the 1668 Treaty of Lisbon between Spain and Portugal.

He was instructed to agree a treaty of commerce, obtain reparations for losses and confirm possession of territories captured from 1654 to 1660, primarily Jamaica.

[6] Talks opened in 1664 since the offensive failed, halted once the Second Anglo-Dutch War began in March 1665 and restarted after the Spanish defeat at the Battle of Montes Claros in June.

[8] Ending the war against Portugal was a priority for the new Spanish government, and Juan Everardo Nithard made an Anglo-Spanish treaty dependent on English help in achieving that.

[12] English complaints related to two areas; exclusion from markets within the Spanish Empire, and restrictions on direct trade between mainland Spain and England.

[16] Articles Seven, Eight, Eleven and Twelve went further than this, by allowing English colonies in North America and the East India Company to ship goods directly to Spanish ports.

[13] By granting English merchants trading rights within Spanish America, the treaty accepted England's presence in the Caribbean and occupation of Jamaica, but that was not formally recognised until 1670.

[17] Articles Fourteen to Seventeen allowed English ships access to ports throughout the Spanish Empire, a significant concession since it greatly increased their operating range.

[20] The economic historian Guillermo Pérez Sarrión claims that the 1667 treaty demonstrated "England's absolute dominance of Anglo-Spanish trade".

[23] That allowed English merchants to evade customs duties since demand from Spanish colonists created a large and extremely profitable black market.

[25] Relieved of that burden and backed by the Triple Alliance, Spain ended the War of Devolution with France by agreeing to the Treaty of Aix-la-Chapelle on 5 May.