Common use of Context and Objectives Clause in Contracts

Context and Objectives. 1. The Parties reaffirm their commitments to promoting the development of international trade in such a way as to 2. The Parties recognize that economic development, social development, and environmental protection are interdependent and mutually reinforcing components of sustainable development. They underline the benefits of cooperation on trade-related social and environmental issues as part of a global approach to trade and sustainable development. 3. The Parties recognize that it is not their intention in this Chapter to harmonize the environmental or labor standards of the Parties, but to strengthen their trade relations and cooperation in a way that promotes sustainable development in the context of paragraphs 1 and 2. 4. In this regard, the Parties: (a) recognize their commitments to promote compliance and effective implementation of each Party's environmental and labor legislation; (b) will strive to promote the conservation and sustainable use of biodiversity, and the preservation of traditional knowledge relevant to the conservation of biological diversity and the sustainable use of its components; and (c) recognize their commitments towards labor principles and rights included in Article 16.6.