HONG KONG: China and the Association of Southeast Asian Nations (ASEAN) have completed negotiations to further refine their free trade area to include the digital and green economy and other new industries, China's commerce ministry said on Wednesday.
ASEAN, made up of 10 Southeast Asian countries, is China's largest trading partner, with the value of total trade reaching $234 billion in the first quarter of 2025, according to Chinese customs data.
The so-called 3.0 version of the free trade area will "inject greater certainty into regional and global trade and play a leading and exemplary role for countries to adhere to openness, inclusiveness and win-win cooperation," the statement said.
Negotiations began in November 2022, and the agreement covers areas including the digital economy, green economy, and supply chain connectivity, the statement said.
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