ASEAN member nations, China conclude negotiations on CAFTA 3.0

Economic and trade ministers from both sides met virtually for the announcement.

The upgraded agreement introduces nine new chapters covering digital economy, green economy and supply chain connectivity, the ministry said.

CAFTA 3.0 is expected to back free trade and open cooperation, and inject greater certainty into regional and global trade, a state-controlled Chinese media outlet reported.

The negotiations, which began in November 2022, concluded substantially in October 2024 after nine rounds of formal talks.

CAFTA 3.0 will offer key institutional guarantees for building a China-ASEAN mega market, while supplying lasting momentum for building the China-ASEAN community with a shared future and promoting common prosperity and development for both sides, added the ministry.

Both sides will advance their respective domestic signing and ratification procedures, with the goal of formally signing the CAFTA 3.0 upgrade protocol before the end of this year.

Fibre2Fashion News Desk (DS)