Common use of The Approach Clause in Contracts

The Approach. The objectives of ACP-EC development cooperation shall be pursued through integrated strategies that incorporate economic, social, cultural, environmental and institutional elements that must be locally owned. Cooperation shall thus provide a coherent enabling framework of support to the ACP’s own development strategies, ensuring complementarity and interaction between the various elements. In this context and within the framework of development policies and reforms pursued by the ACP States, ACP-EC cooperation strategies shall aim at: (a) achieving rapid and sustained job-creating economic growth, developing the private sector, increasing employment, improving access to productive economic activities and resource, and fostering regional cooperation and integration; (b) promoting human and social development helping to ensure that the fruits of growth are widely and equitably shared and promoting gender equality; (c) promoting cultural values of communities and specific interactions with economic, political and social elements; (d) promoting institutional reforms and development, strengthening the institutions necessary for the consolidation of democracy, good governance and for efficient and competitive market economies; and building capacity for development and partnership; and (e) promoting environmental sustainability, regeneration and best practices, and the preservation of natural resource base.

The Approach. “The objectives of ACP-EC development cooperation shall be pursued through integrated strategies that incorporate economic, social, cultural, environmental and institutional elements that must be locally owned. Cooperation shall thus provide a coherent enabling framework of support to the ACP’s own development strategies, ensuring complementarity and interaction between the various elements. In this context and within the framework of development policies and reforms pursued by the ACP States, ACP-EC cooperation strategies shall aim at: (a) achieving rapid and sustained job-creating economic growth, developing the private sector, increasing employment, improving access to productive economic activities and resourceresources, and fostering regional cooperation and integration; (b) promoting human and social development helping to ensure that the fruits of growth are widely and equitably shared and promoting gender equality; (c) promoting cultural values of communities and specific interactions with economic, political and social elements; (d) promoting institutional reforms and development, strengthening the institutions necessary for the consolidation of democracy, good governance and for efficient and competitive market economies; and building capacity for development and partnership; and (e) promoting environmental sustainability, regeneration and best practices, and the preservation of [the] natural resource base.” This should provide a strong framework for any investment agreement, provided the partners actually meant what they signed. In particular the definition of “good governance” to be found in Article 9.3 is as clear an articulation of the principles that must govern any international investment agreement as can be found in any current international treaty.