The Convention of Constantinople was a significant agreement signed by representatives of multiple nations, including the United Kingdom, France, Russia, Austria-Hungary, and the Ottoman Empire. The convention arose from the geopolitical importance of the Suez Canal, opened just over a decade earlier, which had rapidly become a crucial artery for international maritime trade. With its strategic location allowing ships to bypass the lengthy journey around the southern tip of Africa, the canal's neutrality during conflicts was essential for global commerce, particularly regarding the transport of goods to and from British India and other colonies.

The document explicitly affirmed that the Suez Canal would remain open to all nations for peaceful passage, irrespective of whether countries were at war or in a state of peace. This recognition of the canal's neutral status was fundamental; it aimed to prevent any single nation from dominating this vital trade route and ensured collective responsibility among nations. Additionally, the agreement acknowledged Egypt’s sovereignty over the canal while stipulating that its neutrality must be upheld.

The significance of the Convention extended beyond immediate international trade considerations; it reflected the growing need for multilateral agreements in an increasingly interconnected world. Furthermore, it established a precedent for future treaties that would ensure the protection of important global maritime routes, paving the way for similar agreements in other strategic waterways, like the Panama Canal decades later. Moreover, it enhanced the international community's understanding of navigational rights and obligations, fostering a diplomatic environment conducive to cooperation.