日韩精品久久一区二区三区_亚洲色图p_亚洲综合在线最大成人_国产中出在线观看_日韩免费_亚洲综合在线一区

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Policies

Upgraded China-ASEAN pact injecting impetus into global trade

China Daily | Updated: 2025-05-28 09:43
Share
Share - WeChat
Workers cast off the ropes for a ship bound for ASEAN countries at a container dock of Qingdao Port in Qingdao, East China's Shandong province, April 30, 2025. [Photo/Xinhua]

KUALA LUMPUR — In a significant stride toward regional economic integration, China and members of the Association of Southeast Asian Nations have completed negotiations on an upgraded free trade agreement, doubling down on efforts to promote inclusive and sustainable growth.

The Version 3.0 China-ASEAN Free Trade Area (CAFTA) comes at a critical moment and sends a clear and strong signal in support of free trade and open cooperation amid growing protectionism and trade fragmentation, analysts told Xinhua on the sidelines of the 2025 ASEAN Summit and related meetings.

The deal, a pivotal enabler for ASEAN and China's sustained growth and competitiveness, marks a shift "from traditional goods to the future economy", said Tan Kar Hing, deputy chairman of Malaysia's Center of Regional Strategic Studies.

Beyond tariff cuts and smoother trade, the upgraded agreement incorporates nine new chapters covering such strategic areas as digital economy, green economy, supply chain resilience, small and medium-sized enterprise support and Customs cooperation, reflecting "broader coverage and greater specificity", the Malaysian expert said.

As major developing economies, China and ASEAN have been each other's largest trading partners for years. Data from China's General Administration of Customs showed that in the first four months, two-way trade reached 2.38 trillion yuan ($330.86 billion), up 9.2 percent from a year earlier. Their highly complementary economies form a cornerstone of regional cooperation.

For export-driven economies like Malaysia, the upgrade eases access to ASEAN and Chinese markets, particularly for small businesses. "Local SMEs can now connect directly with regional markets through digital platforms — true 'local creation, regional expansion'," Tan said. The pact also streamlines agricultural exports and builds traceable supply chains — key for Malaysia's food and commodity sectors.

The evolution from Version 1.0's basic tariff reductions to Version 3.0's rule alignment signals a "deepening commitment to a high-level free trade agreement that is inclusive, modern, comprehensive and mutually beneficial", said Tang Zhimin, director of China ASEAN Studies at the Bangkok-based Panyapiwat Institute of Management.

"By aligning rules, recognizing standards and enhancing mechanisms, the upgraded deal strengthens the foundation for collaboration in supply and industrial chains," Tang said.

The inclusion of new priority areas in CAFTA 3.0 demonstrates the agreement's responsiveness to pressing regional concerns, reflecting that "the China-ASEAN Free Trade Area is not static, but continues to evolve to address current and future challenges," said Wijayanto Samirin, an economist at Indonesia's Paramadina University.

More importantly, the upgraded free trade agreement signifies the resilience and growing strength of multilateralism against protectionism, the Indonesian analyst said. "It particularly underscores ASEAN's and China's support for multilateralism, injecting certainty into global trade."

The pact highlights both sides as "steadfast supporters of economic globalization," Tang said.

Thong Mengdavid, a lecturer at the Institute for International Studies and Public Policy of the Royal University of Phnom Penh in Cambodia said, "ASEAN and China are opting for openness over fragmentation."

The deal also reduces reliance on Western markets. "It diversifies supply chains and reduces excessive dependence on specific export markets, thus enhancing autonomy and resilience for medium-sized economies like Malaysia," said Tan in Malaysia.

Cambodia's Thong added that it boosts the bloc's "collective negotiating power on the global market", calling ASEAN-China ties "a stabilizing force" amid global volatility. This is particularly significant given that China and ASEAN, as the world's second and fifth-largest economies respectively, account for a quarter of the global population.

Unlike rigid Western trade pacts, CAFTA 3.0 emphasizes "inclusivity, flexibility and phased advancement", Tan said, noting that its framework lets members tailor cooperation to domestic priorities. Malaysia, for instance, can fast-track projects in agriculture or green technology.

"This isn't a one-size-fits-all model but a ladder for developing economies to climb at their own pace," he said.

The pact's completion reflects "unprecedented consensus" between China and ASEAN on institutional design, agenda setting and cooperation roadmaps, "evolving from basic tariff cuts to systemic rules", Tan said, adding that it highlights "a renewed leap in political mutual trust and economic integration between the parties."

Since its inception in 2010, the China-ASEAN Free Trade Area has become a template for South-South cooperation. "Its institutional innovations based on shared consultation and development continue to inspire and revitalize global governance," said Tang.

Xinhua

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 精品影院 | 国产黄色在线观看 | 欧美日韩精品一区二区 | 一区二区三区在线免费看 | 99热这里| 欧美一区二区三区四区夜夜大片 | 色婷婷社区| 成人午夜视频在线观看 | 国产网址在线 | 国产精品久久久久久久久久久搜索 | 国产91精品黄网在线观看 | 久久综合日韩亚洲精品色 | 天天狠狠 | 成年网站在线播放 | 日韩精品一区二区三区第95 | 色交网站| 亚洲成人免费 | 欧美天天在线 | 午夜电影通 | 国产二区三区在线播放 | 午夜性啪啪A片免费AAA毛片 | 国产孰妇精品AV片国产m3u8 | 久久人精品 | 久久综合九色综合97欧美 | 免费视频片在线观看大片 | 搞黄网站免费观看 | 免费视频二区 | 91在线亚洲精品专区 | 一区二区三区视频免费 | 成人精品鲁一区一区二区 | 久久久www成人免费精品 | 成人啪啪97丁香 | 日本三级2020 | 欧美a级毛毛片免费视频试播 | 精品国产一区二区国模嫣然 | 欧美操操操| 欧美一页 | www.午夜剧场 | 九九热视频在线观看 | 五月婷婷激情网 | 一区视频 |