ASEAN-China-Ocean Cooperation Summit Joint Statement: Exploring cooperation on local currencies and cross-border payments.

The joint statement of the ASEAN-China-Gulf Cooperation Council Summit was released, mentioning the promotion of free trade. It welcomes the comprehensive completion of the upgrade negotiations for the China-ASEAN Free Trade Area 3.0, and looks forward to the early signing and implementation of the upgrade protocol. It also looks forward to the early completion of negotiations for the China-GCC Free Trade Agreement. The statement emphasizes the strengthening of industrial and supply chain resilience, promoting sustainable trade, creating new economic opportunities in emerging and future industries such as digital and green economy technologies. It also discusses the establishment of a regional business council to promote dialogue among the three parties, strengthen trade and investment flow, and develop regional value chains. Furthermore, it explores regional financial cooperation including capital markets and financial technology to empower the development of small and medium-sized enterprises, and discusses cooperation in local currency and cross-border payments.