Hey there! Guess what? China and the 10 countries of the Association of Southeast Asian Nations (that’s ASEAN for short) have just finished working on a big agreement called CAFTA 3.0! 🎉
You might be wondering, what is CAFTA? Well, CAFTA stands for the China-ASEAN Free Trade Area. It’s like a special club where these countries agree to trade goods and services more easily with each other. This means they’ll have fewer rules and taxes when buying and selling things between them. Pretty cool, right?
The negotiations for this new version, CAFTA 3.0, started back in November 2022. After nine rounds of talks, they have finally reached an agreement! This deal will help make trading smoother and better for everyone involved.
What’s new in CAFTA 3.0? They’ve added nine new chapters! These include things like the digital economy (that’s everything to do with the internet and technology), the green economy (which focuses on protecting our environment), and supply chain connectivity (which helps make sure products get where they need to go efficiently). 🌐🌱🚚
This agreement is super important because it shows that these countries want to work together and support free trade. It will help their economies grow and will be a great example of cooperation and friendship. 🤝
The goal is to officially sign this agreement before the end of this year. So, stay tuned for more exciting news! 🗞️
Reference(s):
cgtn.com
