ASEAN-China trade deal 3.0 to mark new phase of regional partnership - PM

KUALA LUMPUR: Prime Minister Datuk Seri Anwar Ibrahim has hailed the ASEAN-China Free Trade Area (ACFTA) 3.0 set to be signed on Tuesday as a pivotal milestone that will open a new chapter in ASEAN's strategic partnership with China and strengthen the region's collective economic resilience.

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Anwar emphasised ASEAN's deeper economic ties with China and regional integration through the upgraded ATIGA.
The ACFTA 3.0 signing and upcoming RCEP Summit aim to boost fair trade, digital growth and sustainable energy.
Malaysia's ASEAN Chairmanship promotes inclusive, sustainable development amid global economic and geopolitical challenges.

Speaking at the 47th ASEAN Summit (Plenary) and the Handover Ceremony of the Second Protocol to Amend the ASEAN Trade in Goods Agreement (ATIGA), Anwar emphasised that the deepening of ASEAN-China economic cooperation reflects the 11-member bloc's shared commitment to inclusivity and sustainability.

"To strengthen our economic foundation, we are trading more among ourselves, investing more in one another and advancing integration across sectors.

"The upgraded ASEAN Trade in Goods Agreement (ATIGA) is a decisive step forward," he said.

Also present were Canadian Prime Minister Mark Carney, European Council President Antonio Costa, Managing Director of the International Monetary Fund Kristalina Georgieva and the ASEAN heads of state and government.

The Prime Minister noted that the signing of the ACFTA 3.0 on Oct 28 will mark a new chapter in the regional partnership, demonstrating shared commitment to fair trade, digital transformation, and sustainable energy.

Anwar added that beyond the ASEAN+1 frameworks, ASEAN is accelerating the Regional Comprehensive Economic Partnership (RCEP), the world's largest free-trade pact, and Malaysia will host the 5th RCEP Leaders' Summit tomorrow to give new momentum to its implementation.

Meanwhile, he said Malaysia has had the privilege of chairing ASEAN this year under the theme 'Inclusivity and Sustainability', noting that this comes at a defining moment as the region confronts mounting challenges from geopolitical uncertainty to growing geoeconomic fragmentation.

Earlier today, Anwar officiated at the opening ceremony of the 47th ASEAN Summit and Related Summits at the Kuala Lumpur Convention Centre, marking the start of three days of high-level meetings under Malaysia's ASEAN Chairmanship 2025.

Some 30 leaders and high-ranking officials, including those from the United States, China, Japan, South Korea, New Zealand, Australia and Canada, will participate in discussions on regional peace, economic resilience and inclusive growth.

-- BERNAMA