(ECNS) -- Leaders from China and the Association of Southeast Asian Nations (ASEAN) announced that the Version 3.0 China-ASEAN Free Trade Area (FTA) negotiations have achieved a substantial conclusion at the 27th China-ASEAN Summit on Thursday, according to Chinese Ministry of Foreign Affairs.
The substantial conclusion of negotiations on the updated version reflects the contracting parties’ commitment to maintaining a rules-based trade environment, the ministry said, demonstrating their firm determination to accelerate post-pandemic economic recovery by deepening economic integration and cooperation.
The updated version focuses on digital trade and sustainable development as well as providing ongoing support to micro, small and medium enterprises. It aims to build a stronger and more resilient supply chain, keeping trade and investment markets open for long-term growth.
Contracting parties from China and the ASEAN have achieved significant results in nine areas including digital economy, green economy and supply chain interconnectivity, expanding mutually beneficial cooperation in emerging fields based on the existing areas of the China-ASEAN FTA agreement (ACFTA) and the Regional Comprehensive Economic Partnership (RCEP).
The results have strengthened mutually beneficial cooperation in emerging areas, enhanced connectivity in standards and regulations, and promoted trade facilitation and inclusive development, thus holding significant pioneering importance.
To begin with, China and ASEAN have for the first time reached the highest-level provisions concerning the digital economy, green economy, and supply chain interconnectivity within their respective trade agreements.
They also clarified that the Global Development Initiative will serve as a fundamental principle for cooperation, engaging in in-depth experience sharing and policy exchanges in eight priority areas to promote trade and investment cooperation in green industries.
Moreover, for the first time, China and ASEAN have been committed to referring to each other's standards while formulating their own, encouraging mutual recognition of conformity assessment results.
Conformity assessment procedures prioritize sectors such as new energy vehicles and electronics, which helps establish an institutional framework for aligning standards between the two parties.
Furthermore, for trade facilitation, the two parties have enhanced customs procedures and quarantine measures beyond their existing ACFTA and RCEP.
All these improvements contribute to building an inclusive and sustainable regional economy as well as supporting the digital transformation of China and ASEAN.
Driven by the FTA, China has maintained its position as ASEAN's largest trading partner for 15 consecutive years, while ASEAN has been China's largest trading partner for four consecutive years, according to the Ministry of Commerce.
The FTA has become the institutional cornerstone of China-ASEAN economic and trade relations. The updated version is committed to effectively addressing global challenges.
中新经纬1月12日电 “上海市消保委”微信号12日发布2023年投诉情况通报。其中提到“小程序”“短视频”夸大宣传问题突出等7方面问题。 据通报，2023年上海市消保委共处理消费者投诉422874件，同比上升36.68%，推进 中新经纬2月18日电 “自然资源部”微信号18日消息，自然资源部公开通报2023年度国土变更调查专项督察发现的弄虚作假和调查不认真把关不严典型问题。 据介绍，年度国土变更调查结果中的耕地数据是耕地保护和粮食安 中新经纬2月18日电 2024年1月，中国上市公司迎来辞旧迎新的阶段。回顾往年，年度业绩报告及年终活动吸引眼球；展望新年，企业趁势推出龙年产品和新春活动促活市场。东方甄选余热不减、位列品牌热榜前十，董宇辉相关议题继 共建“一带一路”倡议提出十年来，从亚欧大陆扩展至全球，为许多人带去了更好的发展机遇。与此同时，在某些西方媒体的宣传中，“债务陷阱”等阴谋论字眼却甚嚣尘上。中国日报起底工作室针对这一说法 标准缺失 价格无序 宠物蛋糕野蛮生长 宠物美容、宠物寄养接连掀起消费浪潮，宠物蛋糕正在成为下一个浪潮。近日，好利来集团推出全新宠物烘焙品牌Holiland Pet，据介绍，Holiland Pet将专注宠物生日蛋糕及人宠服务 2023年能源投资保持快速增长(新数据 新看点) 新能源完成投资额同比增长超34% 本报北京2月22日电 (记者丁怡婷)记者近日从国家能源局获悉：2023年，我国能源投资保持快速增长，据监测，全国在建和年内拟开工能源重点 。本文链接：EconoScope | China-ASEAN FTA 3.0 provides solutions for global challenges under ruleshttp://www.sushuapos.com/show-5-30022-0.html
声明：本网站为非营利性网站，本网页内容由互联网博主自发贡献，不代表本站观点，本站不承担任何法律责任。天上不会到馅饼，请大家谨防诈骗！若有侵权等问题请及时与本网联系，我们将在第一时间删除处理。