Ministry of Commerce: China and ASEAN have made clear definitions for the first time on green economy, new energy, clean energy, sustainable finance, green skills, and more

The head of the International Department of the Ministry of Commerce interpreted the upgrade protocol of the China-ASEAN Free Trade Area 3.0 version. In the field of green economy, both sides, guided by the goals and principles of the Global Development Initiative, established a comprehensive cooperation framework under the free trade area. For the first time, both sides made clear definitions of green economy, new energy, clean energy, sustainable finance, green skills, etc., and committed not to use environmental standards as a disguised means of trade protectionism, striving to eliminate trade barriers related to environmental products and services, and promoting mutual advancement and common development of environment and trade. Both sides established eight priority cooperation areas: green trade, green investment, circular economy, sustainable finance, green technology, green standards, sustainable energy, and digital green collaborative development, covering the entire chain of research and development, financing, production, consumption, and recycling, which will provide important support for building a green engine for regional economic development and achieving high-quality development