In addition, the Parties recognise that it is inappropriate to promote investment by relaxing health, safety and environmental standards. Finally, the Chapter provides for a review of investment issues within five years of the entry into force of the Agreement, taking into account the treatment accorded by a Contracting Party to non-Parties in other free trade agreements. Learn more about Canada`s trade and investment agreements: types of contracts and how trade and investment agreements are gradually evolving. The Parties recognize that economic development, social development and environmental protection are interdependent. In Chapter 11, they reaffirm their commitment to multilateral environmental and labour agreements and principles and commit to maintaining the level of protection, while recognizing the right of each party to establish its own level of environmental and labour protection. Arbitration procedures shall not apply to this Chapter. The Philippines is currently our 31st largest trading partner with a total (bilateral) of goods in 2019 amounting to $21.4 billion. . .