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BTCC / BTCC Square / Global Cryptocurrency /
China and ASEAN Sign Upgraded Free Trade Agreement Amid Global Trade Tensions

China and ASEAN Sign Upgraded Free Trade Agreement Amid Global Trade Tensions

Author:
Global Cryptocurrency
Published:
2025-10-28 09:11:01
11
2
BTCCSquare news:

China and ASEAN have finalized an upgraded free trade agreement, marking the first major overhaul since 2010. The deal arrives as nations seek insulation from escalating global trade frictions, particularly with the US. Focus areas include agriculture, digital services, and pharmaceuticals, with additional provisions for the digital and green economies.

ASEAN, with a collective GDP of $3.8 trillion, remains China's top trading partner, with bilateral trade reaching $771 billion. The revamped pact underscores Beijing's strategy to deepen regional ties as US tariffs disrupt global commerce. Negotiations concluded in May 2024, coinciding with the implementation of new US tariffs under the TRUMP administration.

Both parties continue participation in the Regional Comprehensive Economic Partnership (RCEP), a bloc representing 30% of global GDP. Malaysia recently hosted the first RCEP leaders' summit in five years, signaling renewed momentum for Asia-Pacific trade integration.

|Square

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