ASEAN-5: Announced ASEAN-China Free Trade Area 3.0 Upgrade

On 11 November 2022, the ASEAN-China Free Trade Area (ACFTA) 3.0 Upgrade negotiations were announced at the 25th ASEAN-China Summit. This represents the second such upgrade since the inception of the agreement in 2010. Following the completion of a feasibility study, the countries reached the decision to proceed with a further upgrade to the ACFTA 3.0. The proposed upgrade to the ACFTA will build on existing commitments in a number of areas, including the digital economy, green economy, supply chain connectivity, non-tariff measures, competition, consumer protection, and MSMEs.