PHNOM PENH, 13 November 2022 – The Leaders of ASEAN and China welcomed the official launch of negotiations for the upgrade of the ASEAN-China Free Trade Area (ACFTA). The upgrade negotiations are meant to ensure that ACFTA contributes to the further deepening and broadening of ASEAN-China economic relations and to both region’s post-pandemic economic recovery. The announcement on the upgrade of the ACFTA was made at the 25th ASEAN-China Summit.
The ACFTA is ASEAN’s oldest FTA among its Dialogue Partners. Upgrading the ACFTA sends a signal to the private sector and all stakeholders that both ASEAN and China are committed to make the ACFTA more relevant to businesses, future-ready, and responsive to global challenges.