ASEAN members have a total population of over 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.   The first stage included the first six signatories who, until 2010, participated in the elimination of their customs duties on 90% of their products.  Between 2003 and 2008, trade with ASEAN increased from $59.6 billion to $192.5 billion.  China`s transformation into a great economic power in the twenty-first century has led to an increase in foreign investment in the Bamboo Network, a network of overseas Chinese companies operating in Southeast Asian markets and with common family and cultural ties.   In 2008, ASEAN members and the People`s Republic of China had a nominal gross domestic product of about $6 trillion.   On 1 January 2010, the average rate of tariffs 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. Meanwhile, the average tariff rate on ASEAN products sold in China fell from 9.8% to 0.1%.  Through 2015, total ASEAN trade in goods with China reached $346.5 billion (15.2% of ASEAN trade) and the ACFTA accelerated the growth of direct investment from China and trade cooperation.  The ASEAN-China Free Trade Area (ACFTA) is a free trade area between the ten member states of the Association of Southeast Asian Nations (ASEAN) and the People`s Republic of China.
The Framework Agreement was signed by eleven Heads of Government on 4 November 2002 in Phnom Penh, Cambodia. .