The fully completion of negotiations on the Version 3.0 China-ASEAN (the Association of Southeast Asian Nations) Free Trade Area (CAFTA) amid a turbulent global landscape underscores the strong foundation of cooperation between the two sides, said a senior Chinese trade expert.
After nine rounds of talks in nearly two years, China and the ten ASEAN member countries have officially wrapped up their negotiations on the upgraded CAFTA, the Ministry of Commerce announced on Wednesday.
In an interview with the China Global Television Network, Huo Jianhua, former president of the Chinese Academy of International Trade and Economic Cooperation, described the new version of CAFTA not just an update, but a strategic response to growing global uncertainty.
"The fully completion of negotiations on the upgraded CAFTA at such a time demonstrates that China-ASEAN cooperation is very solid," said Huo.
The Version 3.0 CAFTA covers nine major areas, including the digital and green economies, supply chain connectivity and trade facilitation. It also introduces, for the first time, joint commitments to high-level rules on data protection, carbon standards, and cross-border consumer rights protection.
"Although the mechanism it introduces for aligning standards and regulations exists in the previous versions of CAFTA, it has never been so operational as it is now," said Huo.
The upgraded CAFTA also strengthens the region's response to global supply chain shocks. Amid rising geopolitical tensions and tariffs from certain countries, both sides are doubling down on connectivity and resilience.
"Both sides have recognized the importance of stabilizing the supply chains during times of external turbulence, which is a significant achievement," said Huo.
The formal signing of the upgraded CAFTA is expected to take place before the end of the year. The CAFTA was first signed in 2002 and came into force on Jan 1, 2010.
ASEAN that groups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam is China's largest trading partner. In 2024, bilateral trade amounted to 6.99 trillion yuan (about 970.21 billion U.S. dollars), accounting for 15.9 percent of China's foreign trade, according to official statistics.
Upgraded FTA highlights strong foundation of China-ASEAN cooperation: expert
Visiting Chinese Foreign Minister Wang Yi said Saturday China is willing to work with Lesotho to strengthen exchanges on governance experience, enhance coordination in multilateral affairs, and advance the China-Lesotho strategic partnership.
Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks when meeting with Lesotho Prime Minister Sam Matekane in the capital of Lesotho.
During the meeting, Wang congratulated Lesotho on the 60th anniversary of its independence this year, and spoke highly of Lesotho government's efforts to prioritize economic development and steer the African country onto a path of sustainable growth. Since the Beijing Summit of the Forum on China-Africa Cooperation (FOCAC) in 2024, the two sides have advanced cooperation under the 10 partnership action plans unveiled at the summit, successfully implementing a number of key projects to effectively promote Lesotho's development and revitalization, Wang said.
China stands ready to work with Lesotho to strengthen exchanges on governance experience, enhance coordination in multilateral affairs, and push for greater development of the China-Lesotho strategic partnership, he added.
Calling on the two sides to firmly support each other, Wang said that China will accelerate the implementation of its zero-tariff policy for African countries, including Lesotho, expand bilateral trade, investment and industrial cooperation, facilitate broader access of Lesotho's specialty products to the Chinese market, and continue to support Lesotho's national development.
China will continue to stand firmly with African countries, uphold justice for the Global South, including Lesotho, oppose unilateralism and acts of bullying, and work together to build a community with a shared future for humanity, Wang said.
On his part, Matekane said during the meeting that Lesotho cherishes its friendship with China and the strategic partnership between the two countries, and expressed gratitude for China's valuable support for the development of African countries, including Lesotho.
Lesotho firmly adheres to the one-China principle and resolutely supports China in safeguarding its core interests, he said, noting that his country stands ready to strengthen strategic mutual trust with China, expand people-to-people exchanges, jointly implement the outcomes of the FOCAC Beijing Summit, and deepen cooperation in areas such as infrastructure, manufacturing and energy.
Matekane stressed that China's zero-tariff policy for African products will inject new impetus into Lesotho's development. He also expressed Lesotho's willingness to strengthen solidarity and cooperation with China on multilateral platforms such as BRICS to jointly address global challenges.
On the same day, Wang also held talks with Lejone Mpotjoana, minister of foreign affairs and international relations of Lesotho.
China, Lesotho to strengthen exchanges, advance cooperation
China, Lesotho to strengthen exchanges, advance cooperation
