China-ASEAN FTA approaching 3.0 edition with ongoing negotiations

China will advance negotiations for the 3.0 version of the China-ASEAN Free Trade Area agreement this year, with a focus on incorporating new growth points in digital and green economies, said Wang Shouwen, vice-minister of commerce and China's international trade representative.

China and the Association of Southeast Asian Nations jointly announced the launch of negotiations in November 2022.

Both sides agreed the talks will cover areas including goods trade, investment, digital economy and green economy to create a more inclusive, modern, comprehensive and mutually beneficial free trade area.

Addressing a news conference in Beijing, Wang said the government has recently concluded negotiations for a free trade agreement with Ecuador and is hoping to sign a final agreement with the Ecuadorian government by the end of the year.

Negotiations with Nicaragua are also ongoing, with China hoping to finalize a deal this year.

In addition to pursuing free trade agreements with other countries and regional organizations, including the Gulf Cooperation Council and Israel, upgrades to existing agreements with Peru, Republic of Korea and Singapore are also being negotiated.

Wang added China will continue to push forward the process of joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and the Digital Economy Partnership Agreement, and will proactively deepen domestic reforms in accordance with the rules of the CPTPP.