With nearly a quarter of the world’s population, China and the Association of Southeast Asian Nations (ASEAN) hold immense market potential, serving as a significant advantage for economic development amid the sluggish global recovery.
A new milestone in China-ASEAN cooperation was marked by Chinese Premier Li Qiang’s announcement at the 27th China-ASEAN Summit on Thursday regarding the substantial conclusion of the Version 3.0 China-ASEAN Free Trade Area upgrade negotiations.
The announcement is anticipated to pave the way for the joint development of a hyper-scale market, uncover cooperation opportunities in areas such as the digital economy and green development, and drive the integration of East Asian economies. As the Chinese premier said, China-ASEAN relations have developed beyond the bilateral scope with far-reaching significance for Asia and having a global impact.