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Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
BEIJING, Nov. 13 (Xinhua) — China's Ministry of Commerce is currently working to accelerate domestic ratification of the Protocol on Upgrading the China-ASEAN Free Trade Area to Version 3.0, and work with the Association of Southeast Asian Nations (ASEAN) to ensure its early entry into force.
At a regular ministry press conference on Thursday, Chinese Ministry of Commerce Spokesperson He Yadong noted that the signing of this protocol marks an important milestone in cooperation between China and ASEAN. It also demonstrates that the economic integration process between the two sides has expanded from traditional liberalization and facilitation of trade and investment to include emerging sectors such as digitalization, green development, standardization, and industrial and supply chains.
According to He Yadong, the new protocol will effectively promote the expansion of regional digital technology capabilities, cooperation in green industries, the interconnectivity of production and supply chains, and the alignment of standards and regulations. The protocol also aims to accelerate the integration of major intra-regional markets, production chains, and supply chains.
Chinese and ASEAN businesses are paying close attention to the enormous business opportunities presented by the protocol, He Yadong said.
He expressed hope that these enterprises will begin to actively study the new rules of the protocol and be ready to use these opportunities to benefit from them.
The Protocol on Upgrading the China-ASEAN Free Trade Area to Version 3.0 was signed on October 28 in Kuala Lumpur, Malaysia, ahead of the 28th China-ASEAN Leaders' Meeting. -0-
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