The United Kingdom government has lowered tariffs on about 3000 products in Nigeria to extend duty-free trade on goods exported from the country.NYSC portal
This was disclosed by British Deputy High Commissioner, Ben Llewellyn-Jones at the launch of the UK’s new Developing Countries Trading Scheme, DCTS, in Lagos.
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VANGUARD reports that Llewellyn-Jones said: “The DCTS will also boost Nigeria’s non-oil exports in line with the Federal Government of Nigeria’s wider trade policy objectives.
“The Developing Countries Trading Scheme, DCTS will benefit 65 countries, 37 of which are African. This new scheme offers developing countries one of the most generous sets of trading preferences of any country in the world and demonstrates the UK’s commitment to building long term, mutually beneficial relationships with emerging economies.NYSC portal
“The DCTS aligns with the UK’s broader approach of using trade to drive development though four pillars: improving market access, providing support to trade, advocating for a fairer trading system, and mobilising sustainable investment.“JAMB Result
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