The United Kingdom has announced that over 3,000 Nigerian products, including cocoa and cashew, are now eligible to enter the UK market either duty-free or at reduced tariffs. This development was revealed by Mark Smithson, Country Director for the UK Department for Business and Trade, in a video shared by the UK in Nigeria. The initiative falls under the UK’s Developing Countries Trading Scheme (DCTS).
“Up to 3,000 products from Nigeria qualify for low tariff or no tariff access to the UK through the Developing Countries Scheme, one of the most generous trading schemes in the world,” Smithson stated. He added that the UK has simplified the process for Nigerian exporters, making it easier to trade a wide range of goods, including cocoa and textiles.
Smithson urged Nigerian exporters to seize the opportunity. “The UK is open and looking to do business with Nigeria. So why don’t you go to the website and find out more about the Developing Countries Trading Scheme and begin to trade with us? ”The DCTS, introduced in 2023, replaced the UK’s previous Generalised Scheme of Preferences. It aims to reduce tariffs and streamline trade regulations for more than 60 developing countries, including Nigeria.
Source; https://guardian.ng/
