Spokesperson for the Ministry of Foreign Affairs Phạm Thu Hằng addressed reporters at the regular press briefing in Hà Nội on May 29. — VNA/VNS Photo Tuấn Anh

HÀ NỘI — Việt Nam welcomes the conclusion to the negotiation of the upgrade to the ACFTA between ASEAN and China, or ACFTA 3.0, the foreign ministry said on Thursday.

The announcement of the completion of the talks on ACFTA 3.0, after nearly three years with nine rounds of formal negotiations, was made following a special video-conference between economic and trade ministers of ten ASEAN countries and China last week.

“This is a very significant outcome, affirming the strong commitments of ASEAN countries and China, ensuring that free trade agreement is up to date and is ready for future and present global challenges,” spokesperson for the foreign ministry said at the regular press briefing in Hà Nội.

ACFTA 3.0 is expected to bring about added value through the addition of a number of new areas, such as digital and green economies, and connectivity of supply chains, she noted.

Hằng added relevant Vietnamese authorities are expeditiously conducting domestic procedures in line with the law, to sign the ACFTA upgrade protocol on the occasion of the 28th ASEAN–China Summit, which is expected to take place in Kuala Lumpur in October this year. — VNS