China, ASEAN seek deeper economic ties

Major progress in negotiations on CAFTA 3.0 set to boost market connectivity. Mo Jingxi reports

- Mo Jingxi reports

China and the Association of Southeast Asian Nations announced the substantial conclusion of negotiations on the Version 3.0 China-ASEAN Free Trade Area, as Premier Li Qiang and leaders of the 10-member regional grouping met for an annual meeting in Vientiane, the capital of Laos.

China and ASEAN agreed that the latest progress demonstrates that the two sides are steadfast in upholding a rules-based trade environment and are committed to deepening economic integration and pragmatic cooperation amid the complex international landscape, according to the Ministry of Commerce.

Addressing the 27th China-ASEAN Summit on October 10, Li said this important outcome provides institutional safeguards for China and ASEAN, two major markets with over 1.4 billion and 600 million people, respectively, to build their super-sized markets together.

"The super-sized markets are the greatest underpinning for our economic prosperity, and strengthening market connectivity is an important direction for our further cooperation," Li said.