China and the Association of Southeast Asian Nations (ASEAN) plan to present an enhanced free trade agreement to their leaders for approval in October, according to China’s foreign minister Wang Yi.

The updated version of the trade pact, often referred to as version 3.0, was negotiated from November 2022 and finalised in May. It aims to expand cooperation in areas such as the digital economy, green economy, and supply chain connectivity.

Additionally, China and ASEAN have agreed on a five-year action plan that outlines collaboration across more than 40 sectors in the coming years, based on statements from Wang following the East Asia Summit in Kuala Lumpur.

Wang also mentioned that both sides are working toward concluding consultations next year on a code of conduct for the South China Sea. This framework is intended to help manage disputes in the region, where China and several ASEAN countries have overlapping maritime claims.