Trade and sustainable development. 1. The Parties reaffirm their commitment to promoting the development of international trade and investment in such a way as to contribute to the objective of sustainable development and shall strive to ensure that this objective is realised in the relevant areas of their economic relationship. 2. The Parties recognise the right of each Party to establish its own levels of domestic environmental and labour protection, and to adopt or modify its relevant laws and policies, consistent with their commitment to internationally recognised standards and agreements. 3. The Parties also recognise that they should avoid encouraging trade or investment by lowering or offering to lower the levels of protection afforded in domestic environmental or labour laws. 4. The Parties shall exchange information and share experience on their actions to promote coherence and mutual supportiveness between trade, social and environmental objectives, including on the aspects set out in Title VIII, and shall strengthen dialogue and cooperation on sustainable development issues that may arise in the context of trade relations.
Appears in 12 contracts
Samples: Framework Agreement, Framework Agreement, Framework Agreement
