2. De partijen erkennen het belang van sociale ontwikkeling, die hand in hand moet gaan met economische ontwikkeling, en geven prioriteit aan werkgelegenheid, huisvesting en woonomstandigheden, overeenkomstig hun respectieve beleid en grondwet, alsmede het bevorderen van de fundamentele arbeidsbeginselen en -rechten, zoals vastgelegd in de verdragen van de Internationale Arbeidsorganisatie, de zogeheten fundamentele arbeidsnormen.
2. The Parties acknowledge the importance of social development, which must go hand in hand with economic development and agree to give priority to employment, housing and human settlements in accordance with their respective policies and constitutional provisions, as well as the promotion of the fundamental principles and rights at work identified by the International Labour Organization's conventions, the so-called Core Labour Standards.