The Parties to this Agreement (hereinafter, "the Parties");
Desiring to promote an international aviation system based on competition among airlines in the marketplace with minimum interference and regulation;
Desiring to facilitate the expansion of international air transport opportunities;
Recognizing that efficient and competitive international air services enhance trade, benefit consumers, and promote economic growth;
Recognizing the contribution made by the Asia-Pacific Economic Cooperation forum in facilitating discussions on the liberalization of air services;
Desiring to make it possible for airlines to offer the traveling and shipping public a variety of service options and wishing to encourage individual airlines to develop and implement innovative and competitive prices;
Desiring to ensure the highest degree of safety and security in international air transport and reaffirming their grave concern about acts or threats against the security of aircraft, which jeopardize the safety of persons or property, adversely affect the operation of air transportation, and undermine public confidence in the safety of civil aviation; and
Noting the Convention on International Civil Aviation, opened for signature at Chicago on December 7, 1944;
Have agreed as follows: