IN A significant stride toward regional economic integration, China and the Association of Southeast Asian Nations (ASEAN) countries have completed negotiations on an upgraded free trade agreement, doubling down on their efforts to promote inclusive and sustainable growth.
The Version 3.0 China-ASEAN Free Trade Area (CAFTA) came at a critical moment, sending a clear and strong signal in support of free trade and open cooperation amid growing protectionism and trade fragmentation, analysts told Xinhua on the sidelines of the ongoing 2025 ASEAN Summit and related summits.
The deal, a pivotal enabler for ASEAN and China’s sustained growth and competitiveness, marks a shift “from traditional goods to the future economy,” said Tan Kar Hing, deputy chairman of Malaysia’s Centre of Regional Strategic Studies. Beyond tariff cuts and smoother trade, the upgraded agreement incorporates nine new chapters covering such strategic areas as digital economy, green economy, supply chain resilience, small and medium-sized enterprise (SME) support and customs cooperation, reflecting “broader coverage and greater specificity”, the Malaysian expert said.
Xinhua
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