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Motivated by an observation of Namioka and Phelps on an approximation property of order unit spaces, we introduce the p-tensor product and the m-tensor product of two compact matrix convex sets. We define a new approximation property for operator systems, and give a characterization using the p- and m-tensor products in the spirit of Grothendieck. Thus, an operator system has the operator system approximation property if and only if it is (p,m)-nuclear in a natural sense.