The Developing Countries Trading Scheme (DCTS) has been introduced to help UK businesses access products from around the globe at lower prices, with the aim of reducing costs for UK consumers.
The UK
Government launched the DCTS in addition to the products that developing
countries can already export to the UK duty-free, and could now mean that 99%
of goods imported from Africa under the scheme will enter the UK duty-free.
The scheme
means that a wide variety of products - from clothes and shoes to foods that
aren’t widely produced in the UK, like olive oil and tomatoes – will benefit
from lower or zero tariffs.
The UK
Government says that the DCTS will ensure that British businesses can benefit
from more than £750 million per year of reduced import costs, leading to more
choice and lower costs for UK consumers.
See: New trading scheme cuts tariffs on hundreds of everyday
products - GOV.UK (www.gov.uk)
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