ICYMI – China and 10 ASEAN countries have concluded negotiations on free trade agreement

China and 10 ASEAN countries have concluded negotiations on CAFTA Version 3.0, a major upgrade of their free trade agreement.

• The deal introduces nine new chapters focused on areas like the digital economy, green economy, and supply chain connectivity, aiming to deepen regional integration and economic cooperation.
• Officials say CAFTA 3.0 will enhance trade stability, foster industrial and technological collaboration, and provide institutional support for efficient and secure supply chains.
• With bilateral trade nearing USD 1 trillion in 2024, both sides see this as a key step toward high-quality development and a strong signal in favour of open, rule-based multilateral trade.
• Formal signing of the agreement is expected by the end of 2025.

Link here for more.

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China + ASEAN Member States:

• Brunei Darussalam
• Cambodia
• Indonesia
• Laos
• Malaysia
• Myanmar
• Philippines
• Singapore
• Thailand
• Vietnam

These eleven countries form the CAFTA 3.0, an upgraded free trade agreement aiming to deepen economic integration between China and the ASEAN bloc.

This article was written by Eamonn Sheridan at www.forexlive.com.