After the first six signatories reached their target by 2010, the CLMV countries (Cambodia, Laos, Myanmar, Vietnam) adopted the same customs policy with the same objective to be achieved by 2015. [6] In 2010, the ASEAN-China Free Trade Area became the People`s Free Trade Area and the third largest free trade area in terms of nominal GDP. It was also the third largest volume of trade after the European Economic Area and the North American Free Trade Area. [12] [7] Overall, the China-Thailand Free Trade Agreement has not done any good for small farmers on both sides of the border. He was just in favor of businessmen who can control the trade and use it to expand their contract farming, like for example. B Thailand (ethnically Chinese) Charoen Pokphand Group. On 1 January 2010, the average tariff rate on Chinese products sold in ASEAN countries increased from 12.8% to 0.6% until the implementation of the free trade area by other ASEAN members. These changes should help Vietnam to reduce tariffs and set deadlines as guidelines. [14] ASEAN members have a total population of more than 650 million. Indonesia accounts for more than 40 per cent of the region`s population and the population has been the most opposed to the agreement. [17] [13] The first stage included the first six signatories who, until 2010, participated in the elimination of their customs duties on 90% of their products. [6] Between 2003 and 2008, trade with ASEAN increased from $59.6 billion to $192.5 billion.

[7] China`s transformation into a major economic power in the 21st Century has led to an increase in foreign investment in the Bamboo Network, a network of overseas Chinese enterprises active in Southeast Asian markets and with common family and cultural ties. [8] [9] In 2008, ASEAN members and the People`s Republic of China had a nominal gross domestic product of about $6 trillion. [10] [11] The Heads of State and Government of China and ASEAN (AMS) signed the Framework Agreement on Comprehensive Economic Cooperation between China and ASEAN at the sixth China-ASEAN Summit in November 2002. . .