Monday, 25 May 2026
China's Foreign Minister Wang Yi speaks to the media as he walks between meetings during the 58th ASEAN Foreign Ministers meeting and related meetings at the Convention Centre in Kuala Lumpur on July 11, 2025. MANDEL NGAN/Pool via REUTERS/File Photo
China, ASEAN to present upgraded trade pact to leaders in October
SHANGHAI – China and the Association of Southeast Asian Nations (ASEAN) have reached an agreement to submit an upgraded free trade agreement to their respective leaders for approval in October, according to Chinese Foreign Minister Wang Yi.
Negotiations for the new “3.0” version of the free trade zone commenced in November 2022 and concluded in May. This upgrade aims to incorporate new areas of cooperation, including the digital economy, sustainable development, and enhanced supply chain integration, Reuters reported.
In addition, China and ASEAN have adopted a five-year action plan outlining collaboration across more than 40 sectors in the coming years, the Ministry of Foreign Affairs announced in a statement that quoted Wang following his participation in the East Asia Summit held in Kuala Lumpur on Friday.
Wang also noted the two sides have committed to working towards finalizing consultations next year on a code of conduct for the South China Sea—a set of guidelines intended to address and manage territorial disputes in an area where China and several ASEAN nations maintain overlapping claims.