Kuala Lumpur: ASEAN Economic Ministers have successfully concluded negotiations for the ASEAN-China Free Trade Area (ACFTA) 3.0 upgrade, in conjunction with the finalization of the enhanced ASEAN Trade in Goods Agreement (ATIGA). This strategic advancement signifies a key step toward deeper economic integration and growth.
According to BERNAMA News Agency, Investment, Trade and Industry Minister Tengku Zafrul Abdul Aziz announced that both upgraded agreements are set to be signed at the 47th ASEAN Leaders’ Summit in Kuala Lumpur in October 2025. “We remain confident that these milestones will serve as pivotal enablers for ASEAN’s sustained growth and competitiveness,” noted the Minister, following the 25th ASEAN Economic Community (AEC) Council Meeting, part of the 46th ASEAN Summit.
The AEC Council, which coordinates various sectors under the ASEAN Economic Community Pillar, highlighted that the successful conclusion of these negotiations is poised to enhance regional economic integration. This is expected to yield substantial economic benefits as ASEAN navigates a volatile global economic environment. Tengku Zafrul emphasized that the updated ATIGA will incorporate forward-looking and commercially significant provisions to bolster regional trade, enhance supply chain resilience, and promote deeper economic integration within ASEAN.
These advancements are among Malaysia’s 18 Priority Economic Deliverables (PEDs). During the meeting, the AEC Council addressed significant issues such as rising geopolitical tensions and the effects of US tariff measures on ASEAN’s trade and investment climate. The Ministers collectively acknowledged the need to move beyond a ‘business as usual’ approach and implement more dynamic, forward-thinking strategies to protect and advance ASEAN’s socio-economic interests.
The Council reaffirmed ASEAN’s centrality, non-alignment, neutrality, and unity as foundational elements of the region’s resilience and success. The diversity, collective economic strengths, political stability, and shared commitment within the region were highlighted as essential to overcoming current and future challenges.
Additionally, the AEC Council celebrated the completion of ASEAN 2024 Chair Laos’ PEDs, notably the successful adoption of the Roadmap on Digital Trade Standards, underscoring the ongoing commitment to advancing ASEAN’s digital economy agenda.
The meeting was attended by various ministers and representatives, including Malaysia’s Deputy Investment, Trade and Industry Minister Liew Chin Tong, Brunei’s Minister of Finance and Economy II Datuk Awang Mohd Amin Liew Abdullah, and other prominent figures from Cambodia, Vietnam, Indonesia, Laos, the Philippines, Singapore, Thailand, and Timor-Leste.
The 46th ASEAN Summit, themed ‘Inclusivity and Sustainability’, marks Malaysia’s fifth time chairing the regional bloc, having previously held the chairmanship in 1977, 1997, 2005, and 2015.