The United Kingdom’s Department for International Trade launched July 19 a consultation on the Developing Countries Trading Scheme, which would “grow free and fair trade” between the UK and 70 qualifying countries. The consultation will be open for eight weeks to businesses, the public, civil society groups, consumers, associations, partner governments, and any other interested stakeholders.
The UK currently operates a similar scheme carried over from the European Union, but the department said the DCTS would include improvements such as lower tariffs on imports from low-income and lower middle-income countries and simpler rule of origin requirements for least-developed nations.
“Now the UK is an independent trading nation we have a huge opportunity to do things
differently, taking a more liberal, pro-trade approach,” said International Trade Secretary Liz Truss. “Countries like Bangladesh and Vietnam have proven it’s possible to trade your way to better living standards, and our new Developing Countries Trading Scheme will help others do the same.”
Foreign Secretary Dominic Raab added that the UK “intends its new scheme to be best in class” and that it will incorporate and build on “some of the strongest elements” of similar programs in the U.S., Canada, Japan, and the EU.
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