KUALA LUMPUR, Oct 28 — Asean and China are focusing on reducing trade barriers between the two parties to ensure smoother, more efficient trade flows in the region, said Foreign Minister Datuk Seri Mohamad Hasan.
The issue would be one of the main topics of discussion at the Asean-China Summit, which also saw the signing of the Asean-China Free Trade Agreement (ACFTA) 3.0.
“We are looking at ways to lower trade barriers between Asean and China so there is no overlap that could complicate trade,” he told the press on the sidelines of the 47th Asean Summit and Related Summits at the Kuala Lumpur Convention Centre today.
Mohamad added that the move is part of Asean and China’s efforts to facilitate regional trade and investment, thereby strengthening the region’s position as a dynamic economic bloc.
Further details on the trade facilitation mechanism are expected to be explained by Prime Minister Datuk Seri Anwar Ibrahim this evening.
Earlier, Anwar described the ACFTA 3.0 to be signed today as a major achievement that will open a new chapter in strategic cooperation between Asean and China and collectively bolster the region’s economic resilience.
