The Association of Southeast Asian Nations (ASEAN) and China have signed an updated version of the ASEAN–China Free Trade Area (ACFTA) 3.0 agreement. The ceremony took place during the 47th ASEAN Summit in Kuala Lumpur, reports
CCTV+, a partner of TV BRICS.
The event was attended by Premier of the State Council of the People’s Republic of China Li Qiang, Prime Minister of Malaysia Anwar Ibrahim, Minister of Commerce of China Wang Wentao, and Tengku Zafrul Abdul Aziz, Malaysia’s Minister of Investment, Trade and Industry.
The original agreement was signed at the 6th ASEAN–China Summit in 2002 and implemented in 2010 as version 1.0. The parties later concluded an updated version in 2015, which entered into force in 2019. Negotiations on ACFTA 3.0 began in November 2022 and were completed in May 2025.
ACFTA 3.0 covers nine key areas. In addition to traditional sectors such as customs procedures, standardisation and economic cooperation, the document provides for collaboration in new fields. These include the digital and green economy, supply chain connectivity, consumer protection, competition, and support for micro-, small- and medium-sized enterprises.
“So it’s in the interests of both China and ASEAN to upgrade what we have today: reduce the trade barriers, include elements of digital, include elements of sustainability, improve the various capacity-building rules, single windows and many things that make it easier for exporters and importers to do business together,” said Tengku Zafrul.
It is noted that China has remained ASEAN’s largest trading partner for 16 consecutive years, while ASEAN countries have been China’s top trading partners for the past five years. In 2024, the volume of bilateral trade reached US$982.3 billion, 17 times higher than the level recorded in 2002.
Photo:
Official website of ASEAN
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