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China, ASEAN complete negotiations on upgraded free trade deal

  • China and the 10 ASEAN countries completed negotiations on the upgraded ASEAN-China Free Trade Area 3.0 during a virtual meeting on Tuesday, May 21, 2025.
  • Formal discussions to update and broaden the 15-year-old free trade agreement, initially established in 2002, commenced in late 2022 and involved nine rounds of negotiations.
  • The enhanced agreement incorporates nine additional chapters focusing on emerging sectors such as digital industries, environmental sustainability, and the integration of production and logistics networks to strengthen economic collaboration within the region.
  • China’s Commerce Minister Wang Wentao stated that the agreement demonstrates a clear commitment to free trade and collaborative openness, while providing increased stability and predictability to global trade.
  • Both sides will advance domestic ratification procedures with formal signing expected before year-end, signaling enhanced cooperation amid ongoing US-China trade tensions.
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  • 33% of the sources lean Left, 33% of the sources are Center, 33% of the sources lean Right
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Channel News Asia broke the news in Singapore on Wednesday, May 21, 2025.
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