that reduce costs and ensure predictability for their importers and exporters;
RECOGNISE
their inherent right to regulate and resolve to preserve the flexibility of the
Parties to set legislative and regulatory priorities, safeguard public welfare, and protect legitimate public welfare objectives, such as public health, safety, the environment, the conservation of living or non-living exhaustible natural resources, the integrity and stability of the financial system and public morals;
RECOGNISE
further their inherent right to adopt, maintain or modify health care
systems;
AFFIRM
that state-owned enterprises can play a legitimate role in the diverse economies of the Parties, while recognising that the provision of unfair advantages to state-owned enterprises undermines fair and open trade and investment, and resolve to establish rules for state-owned enterprises that promote a level playing field with privately owned businesses, transparency and sound business practices;
PROMOTE
high levels of environmental protection, including through effective
enforcement of environmental laws, and further the aims of sustainable development, including through mutually supportive trade and
environmental policies and practices;
PROTECT
and enforce labour rights, improve working conditions and living standards,
strengthen cooperation and the Parties' capacity on labour issues;
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