ASEAN-China-GCC Summit Joint Statement: Exploring Local Currency and Cross-border Transfer Cooperation

On May 28, the joint statement of the ASEAN-China-GCC Summit was released, which mentioned that it is committed to giving play to the complementarity of ASEAN, China and the GCC to promote economic cooperation. Promote free trade, welcome the full completion of the upgrade negotiations of the 3.0 version of the China-ASEAN Free Trade Area, and look forward to the early signing and entry into force of the upgrade protocol. Look forward to the early completion of the negotiations on the China-GCC Free Trade Agreement; explore the establishment of a regional business council, promote trilateral business dialogue, strengthen trade and investment flows, and develop regional value chains; explore local currency and cross-border transfer cooperation.