China and the Association of Southeast Asian Nations (ASEAN) recently announced in Vientiane the substantial conclusion of Version 3.0 China-ASEAN Free Trade Area (FTA) upgrade negotiations and confirmed that they will accelerate work involving legal reviews and domestic procedures to promote the signature of the upgrade protocol in 2025.The negotiations began in November 2022.
The substantial conclusion of Version 3.0 China-ASEAN Free Trade Area upgrade negotiations was recently announced in Vientiane. Both sides confirmed they will accelerate work involving legal reviews and domestic procedures to promote the signature of the upgrade protocol in 2025. Both sides are committed to protecting a rules-based trading environment and deepening economic integration.
A joint statement issued by both sides covers existing areas of the FTA as well as emerging areas that have great cooperation potential, including digital economy, green economy and supply chain interconnectivity.
Both sides are committed to protecting a rules-based trading environment, deepening economic integration and pragmatic cooperation in a complex global environment, and accelerating post-pandemic economic recovery.
The China-ASEAN Free Trade Area was set up in 2010.
Fibre2Fashion News Desk (DS)
