The 20th China-ASEAN Expo has set the stage for enhanced cooperation and mutual growth between the Chinese mainland and ASEAN nations. The event featured 19 diverse forums that have accelerated negotiations for the Version 3.0 China-ASEAN Free Trade Area (FTA), opening up new benefits and opportunities for all involved parties.
Chinese Vice Commerce Minister Li Fei highlighted China's commitment to expanding institutional openness and strengthening trade and investment collaboration with ASEAN during the thematic side event, \"Institutional Opening-Up for New Regional Economic Growth.\" By reducing barriers and refining the negative list for foreign investment, China aims to promote a more liberalized trade environment.
A standout moment from the expo was the launch of the China-ASEAN Standardization Cooperation and Exchange Center. This initiative underscores China's pivotal role in international standardization, particularly in cutting-edge fields like new-energy technology and electric vehicles, fostering innovation and setting benchmarks for the region.
As global dynamics shift, with the United States and its allies working to create supply chains independent of China by relocating to Southeast Asia, the push for the Version 3.0 FTA positions China and ASEAN to enhance regional economic integration and build a resilient, interconnected global economy.
Looking ahead, the institutional opening-up initiative promises tangible benefits across various industries, encouraging private sector engagement and reinforcing the commitment of China and ASEAN to a more inclusive and dynamic economic landscape.
Reference(s):
cgtn.com
