China and ASEAN Boost Regional Integration with CAFTA 3.0

In a significant move towards regional integration, China and ASEAN plan to upgrade the China-ASEAN Free Trade Area (CAFTA) by signing the 3.0 Upgrade Protocol. This initiative aims to enhance economic collaboration and trade ties. Since its inception in 2010, CAFTA has been a cornerstone of economic growth, fostering a dynamic cooperation model in the Asia-Pacific region.

Chinese Premier Li Qiang underscored the importance of ASEAN's centrality in regional economics, advocating for stability in multilateral trading systems. Economic relations have flourished, with trade reaching nearly $1 trillion in 2024. Infrastructure projects like the Jakarta-Bandung High-Speed Railway exemplify the expanding cooperation.

The CAFTA 3.0 introduces new chapters focusing on digital and green economies, bolstering integration efforts. Amid rising external challenges, the partnership remains crucial for regional stability and a shared prosperous future.