China and Asean to submit upgraded free trade deal to leaders in October, says China's foreign minister
SHANGHAI (Reuters): China and the Association of South-East Asian Nations have agreed to submit a pact upgrading their free trade areas to their leaders for approval in October, according to China's foreign minister Wang Yi on Saturday.
Negotiations about the so-called 3.0 version of the free trade zone started in November 2022 and were completed in May, seeking to cover areas such as the digital economy, green economy and supply chain connectivity.
China and ASEAN also agreed on a five-year action plan that specifies collaboration between the two sides in over 40 fields in the coming years, according to a statement published by the Ministry of Foreign Affairs, citing Wang's comments after attending the East Asia Summit in Kuala Lumpur on Friday.
Wang also said the two sides agreed to strive to complete consultations next year on a code of conduct in the South China Sea - a set of guidelines aiming to manage disputes in the region, where Beijing and several Asean members have overlapping maritime claims.
Meanwhile, US Secretary of State Marco Rubio said on Friday he had "positive and constructive" talks with Chinese Foreign Minister Wang Yi, as the two major powers vied to push their agendas in Asia at a time of tension over Washington's tariff offensive.
The top US diplomat was in Malaysia on his first Asia trip since taking office, seeking to stress the US commitment to the region at the East Asia Summit and Asean Regional Forum, where many countries were reeling from a raft of steep U.S. tariffs announced by US President Donald Trump this week.
Rubio also had his first in-person talks with China's foreign minister, which came after Beijing warned Washington against reinstating hefty levies on its goods next month and threatened retaliation against nations that strike deals with the US to cut China out of supply chains.
(Reporting by Shanghai and Beijing Newsrooms; Editing by William Mallard) - Reuters
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
42 minutes ago
- The Star
South Africa's Ramaphosa removes police minister over criminal link allegations
FILE PHOTO: South African President Cyril Ramaphosa attends a press conference, after his White House meeting with U.S. President Donald Trump, in Washington, D.C., U.S., May 21, 2025. REUTERS/Leah Millis/File Photo JOHANNESBURG (Reuters) -South African President Cyril Ramaphosa placed police minister Senzo Mchunu on immediate leave of absence on Sunday, following accusations by a top police official that he had colluded with a criminal syndicate and interfered in high-profile investigations. Mchunu denied the allegations by Nhlanhla Mkhwanazi, police commissioner of KwaZulu-Natal province, at a media briefing last Sunday. He said the accusations were baseless and in a statement issued by his spokesperson last week said he was committed to upholding the rule of law. Ramaphosa, whose rise to the highest office was built on promises to fight corruption, has been under pressure to act swiftly as political parties and citizens said the allegations called into question the integrity of the criminal justice system. Investors have for years expressed concern over rampant crime that the World Bank estimates costs South Africa an estimated 10% of gross domestic product each year. "These allegations therefore call for an urgent and comprehensive investigation," Ramaphosa said in a public address which was carried by the public broadcaster and private TV stations, adding he would establish a judicial commission of inquiry for this purpose. Ramaphosa said he will appoint law professor Firoz Cachalia as acting minister of police. Mchunu is a senior figure in Ramaphosa's African National Congress (ANC) party, and political analysts have said he could run for a leadership position at the ANC's next elective conference in 2027. Citing digital evidence such as WhatsApp messages, Mkhwanazi's allegations included that Mchunu had disbanded a police unit tasked with investigating politically motivated killings to protect politicians, police officers and other people linked to a criminal syndicate. Mkhwanazi said more than 100 case files were taken away from the political killings task team and have not been investigated further since. The Democratic Alliance party, the ANC's main coalition partner, called for a parliamentary inquiry into the allegations against Mchunu. At least one opposition party has called for his suspension. (Reporting by Sfundo Parakozov, Colleen Petzer-Goko and Wendell Roelf; Editing by Alexander Winning and David Holmes)
The Star
an hour ago
- The Star
France's Macron announces plan to accelerate military spending
France's President Emmanuel Macron delivers a speech to army leaders, on the eve of the annual Bastille Day Parade in the French capital, at l'Hotel de Brienne in Paris, France July 13, 2025. LUDOVIC MARIN/Pool via REUTERS PARIS (Reuters) -President Emmanuel Macron on Sunday announced a plan to push forward France's defence spending, pledging to double the military budget by 2027 - three years earlier than originally planned - in response to a complex geopolitical moment. France had aimed to double its defence budget from 2017 levels by 2030. However, Macron pledged to reach the target by 2027. A military budget that stood at 32 billion euros ($37.40 billion) in 2017 will rise to 64 billion euros by 2027, with an additional 3.5 billion euros allocated for next year and another 3 billion euros in 2027. He said the accelerated spending, which comes as France is struggling to make 40 billion euros in savings in its 2026 budget, would be paid for by increased economic activity. "Our military independence is inseparable from our financial independence," he said. "This will be financed through more activity and more production." He said Prime Minister Francois Bayrou would provide more details in an address on his plans for the 2026 budget on Tuesday. Bayrou is facing an uphill battle to steer billions of euros worth of savings through a bitterly divided parliament, as France strives to lower its budget deficit to keep EU bean-counters and foreign investors at bay. ($1 = 0.8555 euros) (Reporting by Gabriel Stargardter and Mimosa SpencerEditing by Ros Russell)
The Star
2 hours ago
- The Star
Alumni seminar held in Mauritania to mark 60th anniversary of diplomatic ties with China
NOUAKCHOTT, July 13 (Xinhua) -- The Association of Mauritanian Alumni of Chinese Universities has held a celebratory seminar to mark the 60th anniversary of the establishment of diplomatic relations between Mauritania and China. The seminar was held on Saturday in Nouakchott, the capital of Mauritania, under the theme "Mauritania-China Relations and Prospects for Joint Cooperation." It brought together intellectuals and political figures, who highlighted the history and evolution of bilateral ties as well as prospects for future cooperation. Yarbane Kharrachi, president of the association, said Mauritania-China relations have been rooted in mutual respect, solidarity, and non-interference in internal affairs. He noted that the relationship has since expanded into various fields, directly impacting Mauritania's development trajectory. Kharrachi added that the 60th anniversary offers a valuable opportunity to strengthen bilateral cooperation in support of inclusive and sustainable development. He also conveyed the association's hope for increased Chinese investment in Mauritania's key sectors to help create jobs and drive economic growth. For his part, Chinese Ambassador to Mauritania Tang Zhongdong expressed his delight at attending the event, underlining the resilience and strength of bilateral relations despite global changes. Tang noted that the past six decades have seen fruitful cooperation between the two countries across multiple sectors. He called for building a China-Mauritania community with a shared future and turning bilateral relations into a model of mutually beneficial cooperation.
