UK launches post-Brexit trading scheme to boost developing countries and save millions for UK businesses

Article summary

The UK has launched a post-Brexit Developing Countries Trading Scheme (DCTS) that simplifies trade rules and reduces tariffs on products from 65 developing countries, benefiting over 3.3bn people, with a focus on Africa. The scheme saves UK businesses £770m annually and allows for imports worth over £9bn to be tariff-free or have reduced tariffs, potentially lowering prices for consumers. The DCTS aims to promote economic growth in developing countries, reduce aid dependency, and create international trade opportunities for UK businesses. It has been praised for supporting small businesses and diversifying supply chains.