The Association of South East Asian Nations (ASEAN) and China signed a protocol to upgrade their Free Trade Agreement (FTA) on November 22 2015 in Kuala Lumpur, Malaysia.
China is already ASEAN’s largest trading partner, accounting for 14.5 percent of ASEAN’s total trade, and ASEAN is China’s third-largest. The two sides are targeting total trade of USD1 trillion by 2020. The ASEAN-China FTA went into effect in 2010, and its enhancement was agreed after only four rounds of negotiations.
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