After nine rounds of formal talks since November 2022, China and the 10 Association of Southeast Asian Nations have wrapped up negotiations on CAFTA 3.0, the new upgrade to the China-ASEAN Free Trade Area. The milestone was announced by the Ministry of Commerce during an online summit of economic and trade ministers on Tuesday.
CAFTA 3.0 adds nine fresh chapters covering the digital economy, green economy and supply chain connectivity. These modern provisions aim to:
- Fuel deeper regional integration through tech-driven trade
- Boost sustainable growth with green and low-carbon standards
- Strengthen supply chain resilience across borders
According to the ministry, “CAFTA 3.0 sends a strong signal in support of free trade and open cooperation.” By injecting greater certainty into regional and global markets, the pact is positioned as a model of inclusiveness and win-win collaboration in today’s shifting economic landscape.
Once ratified, the upgraded agreement will lay institutional foundations for a China-ASEAN mega market. Both sides plan to complete domestic signing and ratification procedures and hope to formally sign the CAFTA 3.0 protocol by year-end.
For young entrepreneurs, tech innovators and digital nomads, CAFTA 3.0 promises easier cross-border e-commerce, greener supply chain options and smoother access to ASEAN’s dynamic markets. Thought leaders see it as a boost for sustainable development and a chance to reshape global trade norms together.
Reference(s):
cgtn.com
