LONDON – The UK has introduced the Developing Countries Trading Scheme (DCTS), a new framework offering 65 developing nations around the world lower tariffs and simpler ‘rules of origin’ requirements for exporting to the UK.
The DCTS will apply to a plethora of goods, including clothing and food, and mirrors the European Union’s Everything But Arms (EBA) initiative, which similarly cuts tariffs for developing exporting countries.
Anne-Marie Trevelyan, the UK’s secretary of state for the Department for International Trade, commented: “The scheme demonstrates the UK’s commitment to building long term, mutually beneficial relationships with emerging economies that are home to more than 3.3 billion people.”
