China and ASEAN Sign Upgraded Version 3.0 of Free Trade Area Agreement
China and the Association of Southeast Asian Nations (ASEAN) have signed the upgraded “China-ASEAN Free Trade Area (FTA) Version 3.0” protocol in Kuala Lumpur, marking a new stage in regional economic cooperation.
The new agreement builds on the existing China-ASEAN FTA and the Regional Comprehensive Economic Partnership (RCEP). It expands cooperation into emerging sectors such as the digital economy, green development, and advanced industries — areas expected to drive future regional growth.
Negotiations for the upgrade began in November 2022 and concluded in May this year. The signing coincided with the ASEAN Leaders’ Summit held in Malaysia. The original China-ASEAN FTA took effect in 2010, significantly boosting trade and investment flows across the region.
ASEAN remains China’s largest trading partner. According to ASEAN statistics, bilateral trade reached USD 771 billion in 2024. The bloc’s combined GDP stands at around USD 3.8 trillion, making it one of the most dynamic economic regions globally.
Chinese officials said the upgraded agreement will enhance market access in areas such as agriculture, digital trade, and pharmaceuticals, further integrating supply chains and improving cross-border connectivity among member economies.
Both China and ASEAN are also members of RCEP, the world's largest trade bloc, covering nearly one-third of global GDP and population. Analysts believe the China-ASEAN FTA 3.0 complements RCEP by deepening regional cooperation and promoting sustainable economic integration in the Asia-Pacific.
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