China and ASEAN upgrade free trade pact to boost economic ties

thejakartapost.com

China and ASEAN signed an upgraded free trade pact, aiming to boost economic ties amidst US tariffs. The agreement, version 3.0, was signed at a summit in Malaysia. ASEAN is China's largest trading partner, with bilateral trade reaching $771 billion last year. This move positions China as an open economy and follows negotiations that concluded after US tariff increases. Both are also part of the RCEP trade bloc.


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