The Ministry of Commerce introduces the latest developments of China-ASEAN Free Trade Area 3.0 version.

On the afternoon of April 2nd, the Ministry of Commerce held a routine press conference. A media outlet asked about any new progress the Ministry has made in promoting negotiations for the China-ASEAN Free Trade Area 3.0 version under the current circumstances, and how China plans to further deepen industrial chain cooperation with ASEAN countries in the fields of digital economy and green economy. In response, Ministry of Commerce spokesperson He Yadong stated that the upgrade protocol for the China-ASEAN Free Trade Area 3.0 version was officially signed on October 28th of last year. The 3.0 version upgrade aligns with new trends in international economic and trade development and for the first time incorporates emerging fields such as digital economy, green economy, supply chains, and connectivity into the framework. According to the protocol, the agreement requires approval from China and at least five ASEAN member countries to take effect. Currently, we are working with ASEAN member countries to accelerate the domestic approval process for the protocol, aiming for its early implementation. He Yadong further explained, “Regarding the deepening of industrial chain cooperation between China and ASEAN countries you mentioned, we will fully unleash transportation efficiency, support Chinese digital and new energy enterprises to deepen their presence in the ASEAN market, and continue to strengthen cooperation in frontier fields such as cloud infrastructure, artificial intelligence, financial technology, green equipment, and green power, promoting the deep integration of supply chains.” (Global Times)