China and the Association of Southeast Asian Nations will send an upgraded ‘version 3.0’ free-trade agreement to their heads of government for approval in October, Chinese Foreign Minister Wang Yi said on Saturday after regional talks in Kuala Lumpur.
The new pact, concluded in May after 18 months of negotiations, widens the 2010 China–ASEAN Free Trade Area to cover the digital and green economies as well as supply-chain resilience, according to a statement from China’s foreign ministry.
Wang said the two sides had also endorsed a five-year action plan that sets out cooperation in more than 40 policy areas ranging from e-commerce standards to renewable-energy investment.
China and ASEAN aim to finish drafting a code of conduct for the South China Sea by next year, he added, describing the guidelines as a step towards managing overlapping territorial claims. Several ASEAN states, including the Philippines and Viet Nam, dispute Beijing’s expansive maritime claims.
Bilateral trade has expanded rapidly in recent years: two-way goods trade reached 6.99 trillion yuan (about $963 billion) in 2024, making ASEAN China’s largest trading partner and accounting for 15.9 % of its total commerce, according to Chinese customs data.
Officials did not disclose when the agreed text will be published, but diplomats said leaders are expected to endorse it at an ASEAN summit in late October. The deal would then enter a ratification process within each member state.
Analysts say the upgrade could help cushion regional supply chains against global trade tensions, though some warn that progress on the South China Sea code of conduct is likely to prove harder than finishing the trade text.
Kremlin spokesman Dmitry Peskov confirmed on Monday that Moscow had yet to receive any information regarding the outcome of recent talks in Florida be...
Canadian Finance Minister Francois-Philippe Champagne chaired a virtual meeting of G7 finance ministers on Monday, focusing on key issues surrounding ...
U.S. President Donald Trump on Monday announced a $12 billion aid package aimed at supporting American farmers affected by his trade policies and ongo...
Alina Habba, the former lawyer to President Donald Trump, resigned from her position as acting U.S. Attorney for New Jersey on Monday after a federal ...
Syrian Foreign Minister Asaad al-Shaibani on Monday revealed new details about the final hours before Bashar al-Assad’s regime fell last year, inclu...
U.S. President Donald Trump on Monday announced a $12 billion aid package aimed at supporting American farmers affected by his trade policies and ongoing tariffs.
Syrian Foreign Minister Asaad al-Shaibani on Monday revealed new details about the final hours before Bashar al-Assad’s regime fell last year, including urgent discussions with Russian officials to brief them on rapidly unfolding events.
Tanzania's government warned on Monday that protests scheduled for Tuesday would be illegal and amounted to an attempted coup, as security forces were heavily deployed in major cities.
Türkiye has reinforced its strategic partnership with Hungary, aiming to expand cooperation in trade, energy, defense, and innovation.
A coup attempt by a “small group of soldiers” has been foiled in Benin after hours of gunfire struck parts of the economic capital Cotonou, officials said on Sunday.
A delayed local vote in the rural Honduran town of San Antonio de Flores has become a pivotal moment in the country’s tightest presidential contest, with both campaigns watching its results as counting stretches into a second week.
A powerful 7.6-magnitude earthquake struck northeastern Japan late on Monday, December 8, prompting tsunami warnings and evacuations across several prefectures.
FIFA releases the 2026 World Cup schedule with match dates, venues, and key fixtures. See when host nations USA, Mexico, and Canada play and get an overview of group stage and knockout rounds.
Lava fountains shot from Hawaii’s Kīlauea volcano from dawn to dusk on Saturday, with new footage showing intensifying activity at the north vent.
The International Monetary Fund's (IMF) executive board approved Pakistan’s latest loan review on Monday, unlocking a critical $1.2 billion in financial support, ensuring that the country’s ongoing IMF program remains on track.
U.S. President Donald Trump announced on Monday that he would allow Nvidia to ship its H200 chips to approved customers in China and other countries, under conditions that prioritize national security concerns.
Lando Norris, fresh off securing his first Formula 1 world championship, has confirmed he will proudly race with the No. 1 on his McLaren in the 2026 season.
Kremlin spokesman Dmitry Peskov confirmed on Monday that Moscow had yet to receive any information regarding the outcome of recent talks in Florida between U.S. and Ukrainian officials, leaving the next steps in the peace negotiations unclear.
Canadian Finance Minister Francois-Philippe Champagne chaired a virtual meeting of G7 finance ministers on Monday, focusing on key issues surrounding export controls and critical minerals.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment