ASEAN China Sign Upgraded Free Trade Deal Enhancing Regional Integration

The Association of Southeast Asian Nations (ASEAN) and China have signed the upgraded ASEAN-China Free Trade Agreement (ACFTA) 3.0, enhancing regional integration and promoting sustainable, inclusive growth across the region. This updated trade pact broadens tariff reductions, improves market access in key sectors like agriculture, digital economy, and pharmaceuticals, and adds new provisions on competition, consumer protection, the digital and green economies, supply chain connectivity, and support for micro, small, and medium enterprises. The agreement, witnessed by leaders including Philippine President Ferdinand R. Marcos Jr. and Chinese Premier Li Qiang, reflects a mutual commitment to multilateralism and counters increased protectionism, notably from the United States. The ACFTA 3.0 covers a market of over 2 billion people and aims to recalibrate trade and investment relations in line with current technological, economic, and geopolitical developments. This enhanced pact is expected to boost trade flows, strengthen supply chains, and expand cooperation in emerging industries, solidifying ASEAN's role in the world's largest trading bloc. The signing underscores a strategic effort by ASEAN and China to deepen economic ties amid global uncertainties and evolving geopolitical dynamics.