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BREXIT MEANS BETTER TRADE

Summary:

In 2023 the UK Government introduced its new Developing Countries Trading  Scheme (DCTS)to provide aid through  trade with 65 developing nations – going further than EU schemes. This would not have been possible inside the EU as member states cannot have their own tariff rates.


Explanation:

In April of 2023 the UK government put into place its new Developing Countries Trading  Scheme (DCTS), which has been designed to provide aid through encouraging trade with 65 developing nations across the globe—and going further than EU GSP and GSP+.

This change would simply not be possible from within the EU Customs Union, as EU member states cannot have their own tariff rates.


Reference: https://gov.uk/government/collections/trading-with-developing-nations 

Reference: https://blogs.sussex.ac.uk/uktpo/publications/the-new-and-improved-uks-developing-countries-trading-scheme/


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