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China and ASEAN Sign Expanded Free Trade Pact
The upgraded agreement covers digital and green economy sectors and aims to improve market access amid global tariff challenges, with ASEAN-China trade valued at $771 billion last year.
- On Tuesday, China and the Association of Southeast Asian Nations signed an upgraded free trade agreement, the '3.0' version, at the ASEAN leaders' summit in Kuala Lumpur witnessed by Chinese Premier Li Qiang and Malaysian Prime Minister Anwar Ibrahim.
- China pursued the deal to counteract U.S. tariffs, seeking to deepen ties with the Association of Southeast Asian Nations amid talks from November 2022 to May this year.
- The pact rests on a market of more than 2 billion people, with two‑way trade rising from $235.5 billion in 2010 to nearly $1 trillion last year and bilateral trade at $771 billion.
- Officials say the upgrade broadens integration into new sectors by improving market entry for smaller players, streamlining regulatory and non‑tariff procedures, and expanding access in agriculture, digital trade, green economy and pharmaceuticals.
- Observers view the upgrade as part of a broader non‑U.S. trade realignment, with Bridget Welsh noting benefits for supply chains and sustainability despite weaker provisions against U.S. tariffs.
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China and ASEAN, hit by U.S. tariffs, sign upgraded free trade pact
The deal would pave the way for improved market access in agriculture, digital economy and pharmaceuticalsbetween the two sides; the 11-member bloc is Beijing’s largest trading partner, with bilateral volume totalling $771 billion last year
·India
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Associated Press News+12 Reposted by 12 other sources
China pitches itself as alternative to US protectionism after signing expanded ASEAN free trade pact
China has signed an expanded free trade agreement with the Association of Southeast Asian Nations. Premier Li Qiang has promoted economic ties with Beijing as an alternative to U.S. protectionist policies.
·United States
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Total News Sources29
Leaning Left4Leaning Right3Center12Last UpdatedBias Distribution63% Center
Bias Distribution
- 63% of the sources are Center
63% Center
L 21%
C 63%
R 16%
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