China–ASEAN Free Trade Agreement

The China–ASEAN Free Trade Agreement (CAFTA) is a pact between China and the 10 member countries of the Association of Southeast Asian Nations (ASEAN). It aims to reduce tariffs and other trade barriers, making it easier and cheaper for goods and services to flow between these countries. The agreement encourages economic cooperation, boosts trade, investment, and regional integration, benefiting businesses and consumers by expanding markets and promoting economic growth in the region. It’s part of China's strategy to strengthen ties with Southeast Asia and foster a more interconnected, prosperous economic community.