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In line with the values and principles guiding the institutional mission and the operation of each Party and based on the strong and transparent informai collaboration developed over the last years, recognizing a substantial convergence of views on the importance of engaging stakeholders across government, business and civil society on the prevention of corruption in public procurement and acknowIedging the value oftransparency, open data, standards and digitai instruments and tools in the governance of public procurement, within the limits of their jurisdiction and in line with the relevant laws and commitments, the parties with this Memorandum of Understanding consent to further improve their collaboration and set key strategie direetions of eollaboration.