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.
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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.
