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China Upgrades FTA With ASEAN To Cover Digital, Green Sectors
The Association of Southeast Asian Nations (ASEAN) and China have signed an upgraded free trade deal at the ASEAN summit in Malaysia. The pact is expected to focus on the digital, green economy and other new sectors.
It’s the second upgrade of the ASEAN-China Free Trade Area (ACFTA) that was first inked in 2002 - making it then China’s first free trade agreement and ASEAN’s first with a major external partner. It then came into effect in 2010, with negotiations for the first upgrade starting in September 2014 and coming into force since 2019.
Chinese Premier Li Qiang on Tuesday called for unity and coordination between China and ASEAN countries, citing “greater risks and challenges” posed by rising protectionism and external interference in the region.
Many countries in the region want to continue doing business while managing ties with China, the ex-prime minister says.
Malaysia handed over the chairmanship of Southeast Asia's regional bloc to the Philippines on Tuesday (Oct 28), with territorial disputes in the South China Sea set to
China has called on its neighbours Japan, South Korea, and ASEAN countries to make greater efforts in science and technology, including carrying out joint scientific and technological research, according to the official Xinhua.
The signing of the upgraded Asean-China Free Trade Area (ACFTA 3.0), the closing ceremony of the 47th Asean Summit and Related Summits, and the
Malaysian Prime Minister Anwar Ibrahim on Monday urged Asia-Pacific leaders to choose dialogue over coercion and cooperation over confrontation, as he opened the East Asia summit at a time of sharpening rivalry between the United States and China.