China, Asean to submit upgraded free trade deal to leaders in October: China’s top diplomat Wang Yi
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China's Foreign Minister Wang Yi said Beijing and Asean have agreed on a five-year plan that specifies collaboration in over 40 fields.
PHOTO: REUTERS
SHANGHAI - China and Asean have agreed to submit a pact on upgrading their free trade areas to their leaders for approval in October, according to Chinese Foreign Minister Wang Yi on July 12.
Negotiations on the so-called 3.0 version of the free trade zone started in November 2022 and completed in May, seeking to cover areas such as the digital economy, green economy and supply chain connectivity.
China and Asean also agreed on a five-year action plan that specifies collaboration between the two sides in over 40 fields in the coming years, according to a statement published by the Ministry of Foreign Affairs, citing Mr Wang’s comments after attending the East Asia Summit in Kuala Lumpur on July 11.
Mr Wang also said the two sides agreed to strive to complete consultations in 2026 on a code of conduct in the South China Sea – a set of guidelines aiming to manage disputes in the region, where Beijing and several Asean members have overlapping maritime claims. REUTERS
