ASEAN and China Enhance Trade Ties with New Agreement

ASEAN and China have signed an upgraded free trade agreement focusing on digital and green economies. This agreement reinforces their status as major trading partners, with last year's trade reaching $771 billion.

In a significant development, the Southeast Asian bloc ASEAN and China signed a new upgrade to their existing free trade agreement on Tuesday. This pact is designed to foster collaboration in emerging industries, particularly in the digital and green economic sectors.

The Association of Southeast Asian Nations, which boasts 11 member countries, holds the position of China's largest trading partner. According to ASEAN statistics, the bilateral trade reached an impressive $771 billion in the previous year, highlighting the critical economic relationship between these regions.

With the inclusion of new sectors like digital and green industries, the enhanced trade agreement is poised to drive growth and innovation across both markets. This move demonstrates a mutual commitment to sustainable economic development and technological integration in the global marketplace.

(With inputs from agencies.)