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China and ASEAN seek to upgrade their FTA

by ChemOrbis Editorial Team - content@chemorbis.com
  • 26/08/2015 (18:13)
According to media reports, China and the Association of Southeast Asian Nations (ASEAN) are planning to finalize negotiations on an upgraded version of the China-ASEAN Free Trade Area (FTA) by the end of 2015. China’s Commerce Minister Gao Hucheng reportedly stated that progress has been made in issues such as goods and services trade, investment and economic and technological cooperation within the three rounds of negotiation which started one year ago.

The China-ASEAN FTA initially came into effect on January 1, 2010. Since the agreement, China has become ASEAN’s largest trade partner while ASEAN has become China’s third biggest trade partner. ASEAN’s member nations are Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.
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