The Protocol was signed during the 28th ASEAN-China Summit, held on October 28 in the capital city of Malaysia.

Vietnamese Prime Minister Pham Minh Chinh, alongside leaders
of other ASEAN member States and China attended the 28th ASEAN-China Summit in
Kuala Lumpur (Malaysia) on October 28, according to a report from the Government
News.

At the summit, leaders of ASEAN Member States and China
witnessed the signing of the Free Trade Area (ACFTA) 3.0 Upgrade Protocol.

In 2024, the two-way trade between ASEAN and China stood at $772.4
billion and China’s investment to ASEAN reached $19.3 billion.

The leaders to the summit affirmed their resolve to further
deepen the ASEAN-China relations, emphasizing the need to promote extensive
economic integration and maintain growth momentum in the Asia-Pacific region.

The leaders agreed to further promote new growth drivers
such as digital transformation, innovation, science and technology, energy
transition, and green economy while enhancing infrastructure, institutions,
businesses, and people-to-people linkages.

The leaders reaffirmed the role and values of
multilateralism in sustaining and consolidating the environment of peace,
security and stability, underscoring that ASEAN and China share common
interests and responsibilities in safeguarding peace and stability in the East
Sea. They pledged to continue promoting dialogue and trust-building, peacefully
settle disagreements and disputes on the basis of international law and the
1982 United Nations Convention on the Law of the Sea (UNCLOS 1982), fully and
effectively implement the Declaration on the Conduct of Parties in the East Sea
(DOC), and strive to soon conclude an efficient and substantive Code of Conduct
in the East Sea (COC) in line with international law and the UNCLOS 1982.

Addressing the summit, Prime Minister Pham Minh Chinh
congratulated China on 80th anniversary of victory over fascism and put forward
three strategic orientations to strengthen ASEAN-China relations.

The Prime Minister suggested ASEAN and China bolster smart,
inclusive and sustainable connectivity, and set up a network of innovation and
research facilities and enhance high-quality workforce.

He stressed that consolidating strategic trust and
maintaining peace and stability in the region is the prerequisite for
sustainable and inclusive development, therefore ASEAN and China need to build
the East Sea into the sea of peace, stability, cooperation and development;
fully and effectively implement the DOC and soon reach the COC.

VGP-Khanh Van