Talks on the upgrade of ASEAN’s free trade area with China have been launched while negotiations on upgrading the one with Australia and New Zealand wrapped up recently.

THE Association of Southeast Asian Nations (Asean) and China have officially launched negotiations to upgrade the Asean-China Free Trade Area (ACFTA).

The total export value of tra fish (pangasius) to China by mid-February plummeted by 38.6% on-year to US$13.55 million, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

China has moved to increase the import of aquatic products from Vietnam, with import value rising by up to 114% after enduring a downward trajectory throughout January and February, according to figures compiled by the Vietnam Association of Seafood Exporters and Producers (VASEP).

The implementation of the new Plan of Action for the period 2021-2025, which is designed to further strengthen ASEAN-China cooperation in the next five years

If Vietnam and China can further optimise their neighbourliness as well as the huge trade potential under the EU-Vietnam Free Trade Agreement (EVFTA), bilateral trade will reach a new height, an official said at an online business matching event on December 17.

The world is undergoing profound changes against the backdrop of COVID-19. China's foreign trade development has been more and more severe and complicated since the world economy has still been in recession and international trade and investment have shrunk sharply.

Trade between the Association of Southeast Asian Nations (ASEAN) and China in the first three quarters of the year reached 481.8 billion USD

But some analysts warn that demand for Chinese-made protective equipment is waning, possibly hurting export growth over the coming months.

It is anticipated that Vietnam's fruit products will enjoy greater opportunities in relation to export and import turnover as both Vietnam and China have successfully brought the novel coronavirus (COVID-19) pandemic under control.