On January 2, the Regional Comprehensive Economic Partnership Agreement officially entered into force for Indonesia. On the first day of entry into force, Nantong Customs issued the first RCEP certificate of origin for export to Indonesia.
Nantong Customs has issued the certificate of origin of RCEP for a batch of aspartame exported to Indonesia by Nantong Changhai Food Additive Co., Ltd. with a value of 117800 dollars.
With this certificate of origin, the company can enjoy tariff reduction of about 42000 yuan for this batch of goods.
Yu Haifeng, Manager of Commercial Department of Nantong Changhai Food Additives Co., Ltd. said, "Previously, we used the ASEAN Certificate of Origin to export to Indonesia. Now, the country implements the RCEP certificate of origin which reduces the tariff on the customer side from 5% to null. It is estimated that the annual savings for customers will be 450000 dollars, greatly improving the competitiveness of our products in the international market.
According to the statistics of Nanjing Customs, in the first 11 months of 2022, Jiangsu registered 58.68 billion yuan in its export to Indonesia, a year-on-year increase of 26%.
In the same period, Jiangsu's imports and exports to other 14 member countries of RCEP accounted for 37% of the province's total foreign trade imports and exports. Since the RCEP took effect in Indonesia, the cumulative range of regions of origin is further expanded, which is expected to further promote the complementary advantages of industrial chains among member countries.
