British consumers and businesses are set to benefit from a package of new trade measures unveiled today which will simplify imports from developing countries, helping to lower prices on everyday goods while supporting jobs and growth in some of the world’s poorest nations, reports the Department for Business and Trade.
The measures will give UK consumers greater access to competitively priced imports as upgrades to the Developing Countries Trading Scheme (DCTS) make it easier for businesses to trade with the UK, helping to lower prices on the high street.
Upgrades include simplified rules of origin, enabling more goods from countries like Nigeria, Sri Lanka, and the Philippines to enter the UK tariff-free, even when using components from across Asia and Africa. They also ensure countries such as Bangladesh and Cambodia continue to benefit with zero tariffs on products like garments and electronics.
This will open up new commercial opportunities for UK businesses to build resilient supply chains, invest in emerging markets, and tap into fast-growing economies, stated Government ministers, who briefed British business leaders and ambassadors from around the world on the changes at a joint Department for Business and Trade (DBT) and Foreign, Commonwealth & Development Office (FCDO) reception in London today.
Minister for International Development Jenny Chapman said: “These new rules will make it easier for developing countries to trade more closely with the UK. This is good for their economies and for UK consumers and businesses.”
The reforms will support trade with emerging markets in Asia and Africa, strengthening the UK’s global partnerships, with retailers such as M&S and Primark expected to benefit. Director of sourcing at Marks & Spencer, Monique Leeuwenburgh, said: “We are supportive of changes to the DCTS rules of origin for garments. The ongoing collaboration between the government and retail industry has provided clarity and certainty for businesses in good time.
“This change will enable us to maintain our long-standing and trusted relationships with our key partners in Bangladesh, to deliver the same great quality clothing and home products at great value for our customers.”
