China and the Association of Southeast Asian Nations (ASEAN) have completed negotiations on their free trade area version 3.0, with the formal signing to take place before the end of the year, the Ministry of Commerce said on Wednesday.
The two sides announced the agreement at a special ASEAN Economic Ministers consultation session with China's Minister of Commerce Wang Wentao Tuesday.
The FTA 3.0 contains nine new chapters, including digital economy, green economy, supply chain interconnection, competition and consumer protection, small, medium and micro enterprises, and economic and technical cooperation.
It is conducive to promoting broader and deeper regional economic integration under the new situation, and will vigorously promote the deep integration of the production and supply chains of the two sides, the ministry said.
The upgraded version, as a priority for economic and trade cooperation between the two sides, is a landmark achievement in jointly maintaining and deepening free trade, demonstrating the strong vitality of free trade and open cooperation, according to the ministry.
It will inject greater certainty into regional and global trade, and play a leading and exemplary role for countries to adhere to openness, inclusiveness and win-win cooperation, and will effectively promote the building of a China-ASEAN community with a shared future, the ministry said.
Negotiations began in November 2022 and were concluded substantially in October 2024 after nine rounds spanning nearly two years.
The ASEAN-China Free Trade Area was first signed in 2002 and came into force on January 1, 2010.
ASEAN, made up of 10 Southeast Asian countries, is China's largest trading partner. In 2024, bilateral trade increased amounted to 6.99 trillion yuan (968 billion U.S. dollars), accounting for 15.9 percent of China's foreign trade, according to official statistics.
China, ASEAN complete negotiations on free trade area 3.0
China, ASEAN complete negotiations on free trade area 3.0
China, ASEAN complete negotiations on free trade area 3.0
China, ASEAN complete negotiations on free trade area 3.0
Israel launched a preemptive strike on Iran early Friday, targeting Iranian nuclear facilities, senior military leaders and research scientists in a major escalation against Tehran.
Israel Defense Forces (IDF) confirmed in a statement that its jets have completed the first-stage attack, notably strikes on dozens of military targets, including nuclear targets in different areas of Iran.
Israeli Prime Minister Benjamin Netanyahu said in a video address that the goal of the ongoing operation is "to strike Iran's nuclear infrastructure, Iran's ballistic missile factories, and Iran's military capabilities," and will continue "for as many days as it takes."
Chief Commander of Iran's Islamic Revolution Guards Corps Hossein Salami and Deputy Army Commander Gholam-Ali Rashid were martyred as a result of the airstrikes, the official news agency IRNA reported.
The Israeli airstrikes also killed two Iranian nuclear scientists, identified as Mohammad-Mehdi Tehranchi and Fereydoun Abbasi, the report said. However, the Iranian side has denied reports that Chief of Staff of the Iranian Armed Forces Mohammad Bagheri was killed in the Israeli airstrikes, according to IRNA. A spokesman for the Iranian Armed Forces said that Israel, with the support of the United States, launched attacks on many places in Iran, including residential areas, and will pay a "heavy price" for this, and await strong response from the Iranian armed forces.
Explosions were reported in Tehran and counties of Natanz, Khondab and Khorramabad, the Iranian state TV reported, adding that multiple casualties, including women and children, were reported in a residential building in Tehran.
Both Israel and Iran closed their airspace following the attack. Israel has declared a nationwide state of emergency.
In a statement, U.S. Secretary of State Marco Rubio denied any U.S. assistance or involvement in the "unilateral" attack, adding that Israel had told Washington that it believed the strikes were necessary for its self-defense.
Earlier on Thursday, U.S. President Donald Trump warned of a possible "massive conflict" in the Middle East, saying that "I don't want them going in" as a new round of Oman-mediated negotiations between the United States and Iran will be held in Muscat Sunday.
"I want to have an agreement with Iran. We're fairly close to an agreement ... As long as I think there is an agreement, I don't want them going in because that would blow it," he told reporters in the White House.
Israel launches preemptive strike on Iran, killing military leaders
