(CFP Photo)

As the Regional Comprehensive Economic Partnership (RCEP) agreement took effect for Indonesia on January 2, Nantong Changhai Food Additive Co Ltd became the first company in Jiangsu Province to get the RCEP certificate of origin for export to the country, according to Nanjing Customs.

Nantong Changhai will export aspartame, an artificial sweetener, worth $117,800 to Indonesia. The RCEP trade agreement means an exemption of 5% tariff duty for importers in Indonesia and will help Nantong Changhai gain a foothold in the country's market.

According to Nanjing Customs, Jiangsu's exports to Indonesia in the first 11 months of 2022 amounted to 58.68 billion yuan, an increase of 26% year-on-year.

The RCEP agreement will help lower the cost of trade, facilitate the integration of industrial chains, and enhance the complementarity between member countries.