SUMMER READING7 Steps to Export Success and Export Brokering by Mike Wilson & Ramzi Bouchrit

Import taxes to be cut on goods from developing nations

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on email
Email

The UK is set to cut import taxes on hundreds of products from developing nations to help boost trade. 

Covering 65 developing countries, products including clothing and shoes could benefit from zero or lower tariffs in a move that has been created by The Developing Countries Trading Scheme. 

The scheme, which builds on similar programs the UK was part of whilst a member of the EU, builds on a list of thousands of products that developing nations can already export into the UK, including 99% of goods imported from Africa. 

The government hopes the scheme will promote trading diversity and support developing nations to drive prosperity and help eradicate poverty. It will also support retailers in the UK to bring off-season products from abroad and onto shelves, such as cucumbers, without having to increase prices. 

International trade secretary, Anne-Marie Trevelyan, said that: “As an independent trading nation, we are taking back control of our trade policy and making decisions that back UK businesses, help with the cost of living, and support the economies of developing countries around the world.”

Read more: Exports rise but UK trade deficit hits record levels

She continued: “UK businesses can look forward to less red tape and lower costs, incentivising firms to import goods from developing countries.”

More exporting news & advice

Exporting to Spain

WEBINAR: Exporting to Spain

This month we were delighted to join Business Wales to share more advice on exporting around the world. This time, Go Exporting