Common use of STANDARDS AND REGULATIONS Clause in Contracts

STANDARDS AND REGULATIONS. 1. Parties shall mutually recognize or otherwise reconcile their existing standards and regulations that operate to restrict or impair trade, investment or labour mobility. 2. Parties shall, where appropriate and to the extent practicable, specify standards and regulations in terms of results, performance or competence. 3. Parties shall not establish new standards or regulations that operate to restrict or impair trade, investment or labour mobility. 4. Parties shall continue to work toward the enhancement of sustainable development, consumer and environmental protection, and health, safety and labour standards and the effectiveness of measures relating thereto. 5. Parties shall cooperate to minimize differences in standards or regulations adopted or maintained to achieve legitimate objectives.