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Nantong Customs issues 1st RCEP C/O for exports to Indonesia

en.nantong.gov.cn Updated: 2023-01-04

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Nantong Customs officers inspect exports. [Photo/Nantong Daily]

Nantong Customs in East China's Jiangsu province issued the first Regional Comprehensive Economic Partnership certificate of origin for exports to Indonesia on Jan 2.

The RECP took effect in Indonesia on Jan 2. So far, the trade pact has taken effect for 14 of the 15 members of the RCEP since it went into force on Jan 1, 2022.

The RCEP C/O will exempt Nantong Changhai Food Additive Co Ltd, which is expected to export $117,800 worth of cargo to Indonesia, from 42,000 yuan ($6,075) in tariffs.

Changhai Food Additive specializes in manufacturing special food ingredients, and sales of its three main products – aspartame, sucralose, and folic acid – rank in the global top three. Indonesia is the enterprise's main importer of aspartame.

Indonesia boasts huge cooperation potential with China and is an important part of the Belt and Road Initiative for Jiangsu enterprises, which have built several industrial cooperation zones overseas.

Statistics show that from January to November in 2022, Nantong Customs issued 10,620 RCEP C/Os to $600 million in cargo.