Kuala lumpur: The upgrade of a China-Association of Southeast Asian Nations (ASEAN) trade deal, set to be signed on Oct. 28, is anticipated to open new economic opportunities for the Philippines. President Ferdinand R. Marcos Jr. will witness the landmark signing of the ASEAN-China Free Trade Area (ACFTA) 3.0 Upgrade during the 47th ASEAN Summit and Related Meetings here. According to Philippines News Agency, Department of Foreign Affairs (DFA) Secretary Ma. Theresa Lazaro stated that the deal would help modernize the region's economic ties with China and align them with global realities. Lazaro emphasized the importance of the ASEAN-China Free Trade Area as a key economic partnership and highlighted the comprehensive improvements introduced in the 3.0 Upgrade. The ACFTA 3.0 is expected to facilitate cooperation in green and digital economies and enhance sustainable supply chain connectivity. Lazaro mentioned that the deal would empower micro, small, and medium enterprises to participate more fully in regio nal value chains. Additionally, the strengthened frameworks on fair competition and consumer protection aim to ensure inclusive growth. The original ACFTA guides various aspects of trade, including Trade in Goods, Rules of Origin, Customs Procedures, Trade Facilitation, and more. The ACFTA 3.0 Upgrade now includes guidance on Competition and Consumer Protection, Digital Economy, Green Economy, Supply Chain Connectivity, and Micro, Small, and Medium Enterprises. Alongside the ACFTA 3.0, the Philippines also signed the Second Protocol to Amend the ASEAN Trade in Goods Agreement (ATIGA) during Malaysia's chairship. This amendment, signed by Trade Secretary Cristina Roque, is another key trade upgrade for ASEAN. Special Assistant to the President on Investment and Economic Affairs Frederick Go stated that the amendment would improve trade facilitation, dispute settlement, and transparency in the region. Certified traders are expected to benefit from expedited cargo clearance through mutual recognition of Autho rized Economic Operators (AEOs). The agreement's strengthened transparency and cooperation provisions will help ASEAN member-states prepare for potential impacts of new trade policies. Go also noted that the inclusion of new issues, such as remanufactured goods, provides avenues for future growth across ASEAN, stimulating job creation and industrial development. President Marcos and officials from other ASEAN member states witnessed the handover ceremony of the Second Protocol to Amend ATIGA during the summit plenary session.