Vientiane, Laos — China and the Association of Southeast Asian Nations (ASEAN) have announced the successful conclusion of negotiations for the upgraded China-ASEAN Free Trade Area (ACFTA) 3.0, as confirmed by China’s Ministry of Commerce. The agreement aims to address emerging challenges in trade while adapting to modern practices.
The ACFTA 3.0 will enhance existing commitments in critical areas, including customs procedures, trade facilitation, technical regulations, and sanitary measures. The upgraded framework will also introduce new commitments focused on the digital economy, green economy, supply chain connectivity, competition and consumer protection, and support for micro, small, and medium-sized enterprises.
Both parties have committed to expediting legal reviews and domestic procedures to enable the signing of the upgraded protocol by 2025. These enhancements are expected to foster a more inclusive and sustainable regional economy, improve supply chain resilience, and facilitate the digital transformation of both ASEAN nations and China.
The negotiations for ACFTA 3.0 were initially agreed upon during the 25th ASEAN-China Summit held in Phnom Penh, Cambodia, in November 2022, marking a significant step in strengthening economic ties between the two regions.