This preamble establishes the objectives and principles of the agreement. It aims to promote economic integration and liberalize trade and investment between the parties to bring economic growth, raise living standards, and reduce poverty through sustainable growth. It also seeks to strengthen bonds of friendship, build on existing trade obligations, recognize developmental differences, strengthen competitiveness, support SMEs, establish predictable trade and investment rules, facilitate trade, preserve regulatory autonomy, affirm the role of state-owned enterprises, promote environmental protection, protect labor rights, promote transparency, recognize cultural diversity, expand world trade, establish rules to address future challenges, and expand the partnership.