Jakarta: ASEAN member countries have jointly agreed to sign the ASEAN-China Free Trade Area (ACFTA) 3.0 upgraded agreement at the ASEAN Summit next month, said Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz. The agreement was reached following smooth consultations between member countries and China’s Ministry of Commerce (MOFCOM) at the 57th ASEAN Economic Ministers’ (AEM) Meeting, here today.

According to BERNAMA News Agency, Tengku Zafrul stated, “Our consultation went smoothly. We discussed the ASEAN-China FTA Upgrade 3.0, and all countries agreed to sign it in October during the meeting with other national leaders,” after chairing the 24th AEM-MOFCOM Consultation.

Tengku Zafrul highlighted that the consumer sector is among those identified for focus, with ASEAN aiming to increase exports to China. The technology sector is also deemed important, with opportunities being provided for ASEAN companies to integrate into China’s supply chain.

He further mentioned that more inclusive trade discussions took place, focusing on legal frameworks to ensure transparency and fairness in trade between China and ASEAN. Looking forward, there will be numerous workshops and seminars on legal matters between China and ASEAN to address trade-related issues.

Tengku Zafrul emphasized the strong trade relationship between the two regions, noting that China has been ASEAN’s largest trading partner for 16 consecutive years, while ASEAN has been China’s top trading partner for the past five years. Trade between ASEAN and China is projected to reach US$1 trillion this year.